The Euro: The First Decade, Marco Buti, Sevaas Deroose, Vitor Gaspar, Joao Nogueira Martins (Eds.), Cambridge University Press, Cambridge, New York (2010), pp. 1015

摘要

It is sometimes hard to distinguish between an exhaustive and exhausting treatment of a subject This book is both. Conceived in 2007 to celebrate the tenth anniversary of the European Monetary Union in 2010, it contains no fewer than 21 chapters and 15 comments, with 70 pages of references. Fortunately it arrived when I was recovering from surgery and had time to read them all, and I'm glad that I did. Each chapter provides a thorough review of the literature on its subject, and most of them contain new research results. The first chapter, moreover, written by the four editors, provides a thoughtful review of the principal issues still facing EMU, inspired in part by recent developments, notably the Greek crisis and its aftermath and the broader problems posed by disparate domains of macroeconomic economic policies — the coexistence of a single monetary policy with virtually autonomous national fiscal policies.