The book integrates political and economic analysis of Europe's Economic and Monetary Union in a format accessible to advanced undergraduates and graduate students. As Europe moves toward economic integration, the problems underlying the monetary unification point to the importance of resolving political differences. In this new edition, distinguished economists and political scientists re-examine the crucial issues in implementing European monetary unification. While the essays comment on current events, they seek to derive general analytical and theoretical conclusions useful to scholars, students, and practitioners in international political economics. The new edition features three new essays and revised versions of the repeated essays.