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The twelfth edition of Economics of Monetary Union provides a concise analysis of the theories and policies relating to monetary union. The author addresses current issues surrounding the Eurozone, including; a critical discussion of the costs and benefits of possible exits by its member countries, and detail on the sovereign debt crisis.

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The twelfth edition of Economics of Monetary Union provides a concise analysis of the theories and policies relating to monetary union. The author addresses current issues surrounding the Eurozone, including; a critical discussion of the costs and benefits of possible exits by its member countries, an analysis of the role of the ECB as new single supervisor and detail on the sovereign debt crisis.

In Part One the author examines the implications of adopting a common currency, assessing the benefit to each country from being a member of the Eurozone, whilst also questioning whether other parts of the world would gain from monetary unification. Part Two of the book looks at the problems of running a monetary union by analysing Europe´s experience and the issues faced by the European Central Bank.

The book is accompanied by online resources that feature:

For students:
r s1- Links to data sources
- Essay questions
- Web links
- Paul De Grauwe on Twitter

For Lecturers:
- PowerPoint slides
- Instructor´s manual

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The level and depth at which the text is written is excellent. It combines theoretical rigour with accessibility. The only book on the Economics of EMU worth buying, reading and recommending to students. Robert Ackrill, Nottingham Trent University

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Professor Paul De Grauwe is John Paulson Chair in European Political Economy at London School of Economics and Head of the European Institute. He was a member of the Belgian parliament from 1991 to 2003 and is honorary doctor of the University of Sankt Gallen (Switzerland), of the University of Turku (Finland), and the University of Genoa.

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