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Reshaping economic and monetary union reveals the reasons why the rules of monetary union in Europe were changed after the Maastricht Treaty, and explains why they might be changed again in the future. National governments found themselves pushed into distinctive roles as promoters, gatekeepers, reformers and defectors as voter preferences and central bank powers combined in different ways to create clear incentives for politicians. These distinctive roles are not only decisive in explaining who pushed for specific changes to EMU rules, but also why some countries needed EMU more than others, and under what conditions pressure to create an economic government for Europe could succeed or fail. They also shed light on why some countries prefer a currency union over other monetary relations based on national currencies. It is essential reading for specialists and students of international political economy and European studies, and for all those interested in the effects of joining EMU.