The Euro as a Stabilizer in the International Economic System

This book examines the implications of the creation of the euro, the single European currency unit, for the stability of the international monetary and exchange rate system. Will the euro be a strong or weak currency? Will the euro be a rival to the dollar system? How will the euro affect monetary co-operation between Europe and the United States? Is the inception of the euro likely to be an historic turning point in the international economic system? These and other central questions are addressed. Besides the economic implications of the euro, contributors also discusses the euro's political ramifications. This volume developed out of a conference held at the Luxembourg Institute for European and International Studies. Among the contributors are many of the best-known experts on international monetary theory and policy and international trade. This book contains revised versions of the papers first presented at the conference as well as the text of the conference proceedings, and is organized in five sections covering the following: the viability of the euro; management of the euro; the euro in the international economy; conference sessions; and a keynote session.