© 2017

Monetary Integration in Europe

The European Monetary Union after the Financial Crisis


  • A second edition of Money Integration in Europe with a new focus on the European Monetary Union crisis

  • Addresses the burden of public debt

  • Assesses the reform options for the EMU


Part of the Studies in Economic Transition book series (SET)

Table of contents

  1. Front Matter
    Pages i-xvii
  2. The Functioning of the Monetary Union

    1. Front Matter
      Pages 19-19
    2. Horst Tomann
      Pages 21-35
    3. Horst Tomann
      Pages 55-79
    4. Horst Tomann
      Pages 105-132
  3. Responses to the Financial Crisis

    1. Front Matter
      Pages 133-133
    2. Horst Tomann
      Pages 135-150
    3. Horst Tomann
      Pages 167-179
  4. Long-term Issues

    1. Front Matter
      Pages 181-181
    2. Horst Tomann
      Pages 183-196
    3. Horst Tomann
      Pages 197-212
    4. Horst Tomann
      Pages 213-230
  5. Back Matter
    Pages 231-246

About this book


This book provides a fully revised and up-to-date analysis of the Economic and Monetary Union (EMU). With four entirely new chapters on responses to the financial crisis and the debate on reform options, Tomann assesses the EMU in comparison with other currency regimes through the adoption of a historical analysis. The book discusses in detail basic issues with currency and comprehensively analyzes monetary policy, highlighting problems of policy coordination. Tomann explores new monetary institutions that have been established in response to the financial crisis, before addressing long-term issues and reviewing reform proposals. By focusing on monetary issues the book offers a better understanding of macroeconomic policies and international policy cooperation, and, by extension, provides a thorough economic assessment of the EMU as an institution as it stands today.


Financial crises The Great Recession EMU Institutional economics Public debt Financial stability Fiscal policy Economic reform European Monetary Union European monetary policy Monetary integration European economic integration

Authors and affiliations

  1. 1.Department of EconomicsFreie Universitaet (FU) BerlinBerlinGermany

About the authors

Horst Tomann is Professor Emeritus at Freie University Berlin, Germany. He previously held the Jean Monnet Professorship for European Economic Policy at Freie University and was a staff member at the German Council of Economic Experts. He has had several appointments as Visiting Professor, among others at the University of Pennsylvania (Wharton School), USA, and the University of Birmingham, UK. He is the co-editor of Palgrave Macmillan’s book series Studies in Economic Transition, and the Palgrave Dictionary of Emerging Markets and Transition Economics, both alongside Jens Hӧlscher.

Bibliographic information

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