A European Monetary Union (EMU) and the complete transfer of the responsibility for monetary policy to a European central bank are no longer utopian ideas, but a politically highly relevant possibility. The question how economic policy goals can be achieved within such a monetary union is...

The economic aims mentioned in Article 2 of the EEC-Treaty may be summarised in the formula: "expansion and stability". The author discusses in the following the effectiveness of the major strategies applied by the EEC within the framework of its integration policy, i.e. integration through...