Abstract
The most distinctive feature of the European Monetary Union (EMU) is its uniqueness. It is impossible to find a single case since the beginning of the Industrial Revolution where a number of independent, sovereign states have created a complete monetary union with a common currency, central bank, monetary and exchange rate policies without first establishing a political union!
This chapter was published previously under a slightly different heading in E. Spaventa and M. Dougan (eds), Social Welfare and EU Law (Oxford: Hart Publishing, 2005).
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© 2011 Dr Milivoje Panić
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Panić, M. (2011). The Future of the European Union: The Euro and the Welfare State. In: Globalization. Palgrave Macmillan, London. https://doi.org/10.1057/9780230307018_8
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DOI: https://doi.org/10.1057/9780230307018_8
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-32409-5
Online ISBN: 978-0-230-30701-8
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