The euro was expected to make Europe stronger and more integrated. So far, it has not succeeded in this endeavour. The EMU's original design underplayed the importance of banking, fiscal and political union and failed to provide the right incentives to promote the structural reforms needed to...

Intro -- PREFACE -- CONTENTS -- ACKNOWLEDGEMENTS -- LIST OF ABBREVIATIONS -- SUMMARY -- INTRODUCTION -- Figure 1 Trends in economic growth and per capita income, 1960-97 -- PART I TRENDS IN GLOBALIZATION AND SOCIAL PROGRESS -- A. THE DIFFERENT DIMENSIONS OF GLOBALIZATION -- Figure 2 Trade and...