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European Integration and the 'Euro Project'

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  • Philip Arestis
  • Malcolm Sawyer

Abstract

The introduction of the euro has been a significant step in the integration of the economies of the countries that form the European Union (EU) and the 12 countries that comprise the Economic and Monetary Union (EMU). Its adoption not only means that a single currency prevails across the euro zone with reduced transactions costs for trade between member countries; the currency also has become embedded in a particular set of institutional and policy arrangements that tell us about the nature of economic integration in the EU. In fact, the euro is a relatively small step along the path to further economic integration at the global level, and the neoliberal agenda of globalization can be clearly seen from the ways in which the euro has been introduced.

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Paper provided by Levy Economics Institute in its series Economics Policy Note Archive with number 02-3.

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Handle: RePEc:lev:levypn:02-3

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  1. Willem F. Duisenberg, 1999. "Economic and monetary union in Europe : the challenges ahead," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 185-194.
  2. Philip Arestis & Kevin McCauley & Malcolm Sawyer, 2000. "An Alternative Stability Pact for the European Union," Macroeconomics 0004043, EconWPA.
  3. Philip Arestis & Malcolm Sawyer, 2002. "Can Monetary Policy Affect The Real Economy?," Economics Working Paper Archive wp_355, Levy Economics Institute.
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