What shape will Europe's future take? Can the full economic and monetary union envisaged for the end of the century be achieved? Is Maastricht the right way forward? In this book, Nolling subjects the Treaty to a dispassionate and searching scrutiny. He concludes that the attempt to achieve monetary union within such a short space of time is fraught with dangers, and unlikely to advance Europe's economic and political fortunes. Maastricht could well fail. And what then? Nolling argues that there are other ways forward and in this book he suggests a number of realistic alternatives.
The book explores various dimensions of the European Monetary Union and its implications for economic and political landscapes. It begins with an examination of the Maastricht framework and the challenges of the euro, addressing questions about its democratic legitimacy and the erosion of foundational agreements. The text delves into the role of central banks and highlights the interplay between currency reform, crime, and corruption, while also considering the impact of political changes in Germany on the euro's stability.
In discussing global economic issues, the book analyzes the relationship between monetary policy and economic development amidst current financial crises. It raises the question of whether a world central bank is feasible and explores the dynamics of globalization and regionalism in the context of a stable euro. The author contrasts American and German financial market expectations, examines cultural differences in transaction approaches, and critiques the speculative tendencies in modern capitalism.
The text also touches upon the implications of stability policies in a dollar-euro-centric world, the role of civil law in development processes, and the necessity for a global organization focused on environmental and developmental issues. It concludes with insights into a successful German-Polish joint venture in the banking sector and provides a comprehensive appendix, including a curriculum vitae and a li
