The following analysis of the 1992/93 crisis of the European Monetary System finds that the unfolding of the single market dynamics will make European Monetary Union a difficult stage to achieve. Further monetary integration is only feasible if full employment and sustained growth are achieved...

Introduction -- The Role of Banks in Financial Integration: Some New Theory and Evidence from New EU Members -- Interdependence Between Foreign Exchange Markets and Stock Markets in Selected European Countries -- The Transatlantic Banking Crisis: Lessons, EU Reforms and G20 Issues -- Financial...