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The State of the European UnionRisks, Reform, Resistance, and Revival$
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Maria Green Cowles and Michael Smith

Print publication date: 2000

Print ISBN-13: 9780198297574

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198297572.001.0001

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Monetary Integration in Europe: Ideas and Evolution

Monetary Integration in Europe: Ideas and Evolution

(p.91) 5 Monetary Integration in Europe: Ideas and Evolution
The State of the European Union

Amy Verdun

Oxford University Press

The Economic and Monetary Union (EMU) resulted from the convergence of ideas about the aim of monetary policy and the design of EMU. It will lead to a further revival of the EU if there remains a clear consensus and widespread support for common ideas on the objectives of economic and monetary policy. On the other hand, the EMU may pose a serious risk to the integration process if its costs and benefits are unevenly spread across EU member states, sectors, regions, and citizens.

Keywords:   Economic and Monetary Union, monetary policy, economic policy, European Union, integration

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