The Euro as a Stabilizer in the International Economic System

This book examines the implications of the creation of the euro, the new European currency unit, for the stability of the international monetary and exchange rate system. Among the central questions addressed are: + 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 cooperation between Europe and the United States? + Is the inception of the euro likely to be an historic turning point in the international economic system? 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: Part I: The Viability of the Euro; Part II: Management of the Euro; Part III: The Euro in the International Economy; Part IV: Conference Sessions; and Part V: Keynote Session. Besides addressing the economic implications of the euro, the book also discusses the euro's political ramifications. This volume promises to be one of the most timely and thorough treatments of the euro and its impact on the international economic system.