Provides an original and wide-ranging analysis of the impact of Economic and Monetary Union (EMU) on economic governance in the EU and in several key Member States within and outside the Euro area. This book's emphasis is on adaptation: how EMU encourages change in national and EU institutions and in national economic regimes.

This book provides an original and wide-ranging analysis of the impact of Economic and Monetary Union (EMU) on economic governance in the EU and in several key Member States within and outside the Euro area. Its emphasis is on adaptation: how EMU encourages change in national and EU institutions and in national economic regimes. It brings together economic, political science and legal perspectives to explain how national economies adapted, the dynamics of policy-making and the complex web of laws, processes and actors in the EMU.

PART 1: ADJUSTMENT AT THE EU LEVEL - Macroeconomic Policy in the EMU - The EMU Constitution - Policy Co-ordination under EMU - Structural Policies as a Means of Adjusting under EMU - PART 2: ADJUSTMENT AT THE NATIONAL LEVEL - The Early Years of EMU: Convergence but Uneven Adjustment - Germany: Painfully Adjusting to EMU? - Ireland: Adjusting to Life in the Euro Area without the United Kingdom? - Finland: Membership to Encourage Change - Sweden: Not Yet or Not Ever? - The United Kingdom: Prospering Outside the Euro Area? - The New Members - Big Bang or Slow Transition to Stage 3 - Adjusting to
EMU: Conclusions and Policy Implications - References