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Sustaining European Monetary Union : confronting the cost of diversity /
Tal Sadeh.
Boulder, Colo. : Lynne Rienner Publishers, 2006.
xiii, 201 p.
1588264785 (hardcover : alk. paper)
More Details
Boulder, Colo. : Lynne Rienner Publishers, 2006.
1588264785 (hardcover : alk. paper)
contents note
The puzzle of European Monetary Union -- Research design -- Adjustment mechanisms -- Economic costs of EMU -- Political costs of EMU -- Cabinet duration and institutions -- The burden of adjustment -- Meet the neighbors.
catalogue key
Includes bibliographical references (p. 181-190) and index.
A Look Inside
Full Text Reviews
Appeared in Choice on 2007-02-01:
Sadeh (Tel Aviv Univ., Israel) has produced an ambitious study of the economic and political issues confronting the existing and future members of the European Union (EU), 26 countries in all. Bulgaria and Romania are included as prospective members. Luxembourg is excluded since it shares a monetary and customs union with Belgium, and no independent data are available. After exploring the dyadic relationships among all these national economies and four major EU states (the UK, Germany, France, and Italy), the author includes 18 additional countries in his analysis. The emphasis throughout is on how the costs of involvement in the European Monetary Union (EMU), with expanded use of the euro as an international currency, could impact member nations and the global economy. No references are made to the benefits that could accrue from participation in EMU; although cost-saving suggestions are introduced, no final conclusion is reached regarding the EMU's long-term sustainability. The study includes an interesting discussion of the interaction among elections, changes in national political leadership, and changes in currency exchange rates. They seem to be closely related, but further studies are needed. This work could encourage continued cost/benefit studies of EU membership. ^BSumming Up: Recommended. Research and faculty collections. G. T. Potter emeritus, Ramapo College of New Jersey
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Choice, February 2007
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Bowker Data Service Summary
Arguing that EMU is disproportionately socially expensive for many of the present and potential member states, this book focuses on the problematic implications of the EU's economic and political diversity.
Unpaid Annotation
'This is a good book.... Sadeh addresses an important and somewhat neglected topic: the continued viability of EMU.'?David H. Bearce, University of Pittsburgh.The tranquility of the European Union's transition to the euro in 1999 contrasted dramatically with the preceding tumultuous decades of exchange rate crises and political upheavals. But have the EU member states in fact converged sufficiently to make monetary union a stable alternative? Or is EMU an institutional lid on a simmering pot of diverse economies, in which tensions are building to a future blowup? And if the latter, what can be done to remedy the situation?Arguing that EMU is disproportionately socially expensive for many of the present and potential member states, Tal Sadeh's rigorous analysis focuses on the problematic implications of the EU's economic and political diversity. Sadeh is particularly concerned with the domestic structural and institutional reforms that will be necessary to sustain EMU. His supporting quantitative data covers 43 countries: all of the EU member states, the candidate countries, and the EU's neighbors in the Middle East, North Africa, and Eastern Europe.Tal Sadeh is assistant professor of political science at Tel Aviv University. He is coauthor of The Future Relations Between Israel and the European Communities: Some AlternativesContents: The Puzzle of European Monetary Union. Adjustment Mechanisms. The Economic Costs of EMU. The Political Costs of EMU. Cabinet Duration and Institutions. The Burden of Adjustment. Meet the Neighbors. Conclusion.
Table of Contents
The puzzle of EMUp. 1
Research designp. 15
Adjustment mechanismsp. 29
The economic costs of EMUp. 47
The political costs of EMUp. 71
Cabinet duration and institutionsp. 95
The burden of adjustmentp. 109
Meet the neighborsp. 139
Conclusionp. 163
Table of Contents provided by Blackwell. All Rights Reserved.

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