Economic Thought and the Making of European Monetary Union: Selected Essays of Ivo Maes

`Ivo Maes's essays on European monetary integration are of particular value because of the importance of the issues involved, which are so sensitive politically, and from the standpoint of national sovereignty. Here, as elsewhere, Maes's combination of historical knowledge and analytical insight will be helpful to students of all ages and to intelligent laymen seeking to understand how we got where we are.' - From the foreword by A.W.

Coats, Emeritus Professor, University of Nottingham, UK and Duke University `This volume offers a very useful contribution to the dialogue between the academic community and the world of European economic policy-making. . . . By highlighting crucial forces in the integration process, it comes into the area where history borders on, and flows over into, a more prospective analysis.' - From the foreword by G.

Quaden, Governor of the National Bank of Belgium, Member of the Governing Council of the European Central Bank This valuable book examines the interaction between economic ideas and the policy-making process in Europe, centered around the creation of European Monetary Union. The essays cover three broad areas: early debates on European monetary integration, economic thought at the European Community institutions, and the establishment of Economic and Monetary Union (EMU) in Europe.

Core elements of the book are analyses of Europe's quest for exchange rate stability and of the debates on the nature of EMU and the path towards it. With the aid of crucial case studies, Ivo Maes goes on to chart the growing awareness among policymakers of the increasing interdependence between Europe's economies and the rise of a new medium-term, stability-oriented policy conception - both vital and necessary factors in the genesis of EMU.

Drawing on the extensive experience of the author, both as an academic and a senior official involved in European economic policy-making, this book undoubtedly contributes towards a better understanding of the role of economic ideas in the process of European monetary integration. It will be an important addition to the literature on EMU and will be required reading for scholars and policymakers in the fields of economics, European studies and the history of economic thought.