Abstract: The introduction of the single European currency, the euro, draws attention to the institutional deficit of the European Union: the organizational structures and forms of governance within which central banks and other monetary authorities are embedded within individual states, are lacking at the European level. This gives unusual prominence to financial structures. While the contributors to this collection do not agree in their evaluation of this phenomenon, they agree on its importance, and analyse different aspects of it in depth.

Keywords: central banks, euro, European monetary union, European Union, financial structures, governance, institutional deficit, single currency