Product Description: Following the demise of Lehman Brothers, the debate on regulatory reform has centered around whether large financial institutions must be broken up and their risk-taking activities limited by law, as called for by the "Volcker rule...read more

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The authors predict that the impact will be far-reaching, leading to a more liquid, mature and efficient capital market. The structure of capital markets in Europe and the behaviour of actors in these markets will be fundamentally affected, leading to a more integrated market. For monetary union to achieve its real objective, policy makers will need to address a wide variety of outstanding issues, in particular the taxation of savings income, accounting standards, capital market regulation and financial supervision. The start of monetary union on 1 January 1999 launched a process of radical change in the structure of capital markets in Europe. Whereas previously, Europe had been fragmented into many diverse national markets, a single Euro capital market is now emerging. This book focuses on the long-term impact that the introduction of the euro will have on European capital markets and spells out implications for the financial sector and the wider economy. It discusses what further steps need to be taken to achieve a fully integrated market. In particular, the book examines: * The institutional and regulatory framework for European capital markets * The structure of European capital markets on the eve of EMU * The regional differences and the contrasts with the US capital market * The central role played by banks in European capital markets and the likelihood that a more market-based system may emerge * The implications of EMU for organised securities markets * The consequences for governance and policy, and more in particular for the taxation of savings income, securities market regulation and financial supervision (view table of contents)

Product Description: With the start of EMU, the Eurosystem has taken over monetary policy for the 11 countries of the Euro-area. But the division of powers within the Eurosystem, between the European Central Bank and the constituent National Central Banks, is not satisfactory...read more (view table of contents, read Amazon.com's description)

Product Description: Daniel Gros and Niels Thygesen provide an unrivalled account of the history, theory and practice of monetary integration in Europe. Starting with a brief history of European monetary integration up to the start of the EMS in 1978, the authors go on to examine in more detail the workings of the EMS, including an analysis of the speculative attacks in 1992-95...read more (view table of contents, read Amazon.com's description)

The creation of an economic and monetary union (EMU) in Europe is among the most important_and controversial_developments of the 1990s. This clear and balanced book brings together economists and political scientists to explain why the creation of a European monetary union is so contentious; how the debate has affected the political determination to construct a monetary union; and how it will influence the functioning of EMU into the next century. Focusing on how economics and politics interact both in the prelude to unification and in its aftermath, the authors provide an innovative analysis of a spectrum of related issues: how EMU relates to Europe's unemployment crisis, how it will affect the process of economic adjustment, what convergence means for the performance of the member states separately, and how the member states will decide both whether to participate themselves and whom else to admit to the monetary club. (view table of contents)

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Product Description: Provides the single most comprehensive and authoritative account of economic reform in the former communist countries. Includes an historical introduction to the theory and reality of the Soviet economy. DLC: Europe, Eastern - Economic conditions.

Product Description: This work supplies a comprehensive analysis of issues surrounding European monetary union and the implications of the momentous changes it will bring.