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This book provides an up-to-date analysis of some of the key issues facing the European Union on the (potentially rocky) road towards monetary union and enlargement. A wide range of topics is covered from a diverse and critical perspective.

After addressing general questions concerning the deepening and widening of European integration, the authors include theoretical and empirical analyses of the implementation of EMU and its feasibility. They also consider convergence and development within the European Union, and the lessons to be learnt from the Nordic enlargement, as well as the experience of the Southern periphery. While the economic dimension is pervasive, the development of European Monetary Union will also be highly dependent on internal political developments and inter-member bargaining.