Table of Contents

List of Tables List of Figures List of Boxes Abbreviations Acknowledgements Preface Notes on the Contributors Introduction 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 Notes Bibliography Index

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BRIAN ARDY is Lecturing at London South Bank University, UK. IAIN BEGG is Visiting Professor at the European Institute at the London School of Economics and Political Science, UK. DERMOT HODSON is in DG EcFin at the European Commission. IMELDA MAHER is Senior Lecturer in Law at the London School of Economics and Political Science, UK. DAVID G. MAYES is Advisor to the Board at the Bank of Finland, Professor of Economics at London South Bank University London and Honorary Professor of Banking and Financial Institutions at the University of Stirling, UK.

About the Author

BRIAN ARDY is Lecturing at London South Bank University, UK.

IAIN BEGG is Visiting Professor at the European Institute at the London School of Economics and Political Science, UK.

DERMOT HODSON is in DG EcFin at the European Commission.

IMELDA MAHER is Senior Lecturer in Law at the London School of Economics and Political Science, UK.

DAVID G. MAYES is Advisor to the Board at the Bank of Finland, Professor of Economics at London South Bank University London and Honorary Professor of Banking and Financial Institutions at the University of Stirling, UK.