Established in 2002, the Euro is now the currency of 17 countries used by over 335 million people daily. Although the single currency is much discussed in terms of macroeconomics and global finances, policymakers rarely address its impact on European citizenship in social, cultural, political, and everyday life economics terms. This hidden side of the single currency is the focus of the essays, which use various approaches, from economic history and political sociology to citizenship and legitimacy, to reveal the connections between the Euro and European citizenship. This timely contribution by renowned experts provides a greater understanding of the Euro at a time when it is not clear whether it should be celebrated or commemorated, and looks into aspects of the single currency that are the base of the social trust that supports it and that is at stake in the present crisis. It will be an essential tool to anyone studying the political, social, and economic development of the E.U.

History was made on 1 January 1999 when 11 European Union countries created a monetary union with a single currency, the euro. Euro banknotes and coins entered circulation on 1 January 2002. But the history of Europe’s common currency has been a long time in the making and can be charted back to the origins of the European Union itself. More than 60 years after the Treaty of Rome laid the foundations of today’s EU, the euro is the most visible symbol of European integration and an integral part of its vision for the future. This booklet describes the euro’s journey to date and its position in the world today.

John Pinder and Simon Usherwood explain the EU in plain readable English. They show how and why it has developed, how the institutions work, and what it does - from the single market to the euro, and from agriculture to the environment.

The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.

The aftermath of the US subprime mortgage crisis in 2008 saw its influence spread around the world, including Europe. The European crisis turned out to be longer, deeper and more resilient than anticipated. An unexpected consequence was the increasingly divergent economic and financial situation of two main groups of countries within the Eurozone, which includes the countries that adopt the euro as their common currency. The divergence was caused by a number of factors, fundamentally stemming from the dissimilar economic and financial situation of its member countries and from the incomplete institutional architecture and the monetary and fiscal policies in the Eurozone.One Currency, Two Europes: Towards a Dual Eurozone seeks to explore these factors which give rise to the Eurozone's asymmetric composition and the growing difficulties and ineffectiveness that policies meet. It presents evidence to show how the presently incomplete institutional architecture of the Eurozone is the main reason for the extreme detrimental effects of the international crisis and austerity policies, along with the asymmetric economic situation and the insufficient mutual trust demonstrated by the vulnerable as well as resilient countries.Other than presenting a complete overview and analysis of the events that unfolded in the Eurozone as a result of the financial crisis that first emerged in the US, this book also suggests possible solutions which could help to reunify the Eurozone, and make the common currency sustainable and beneficial for all member countries. One Currency, Two Europes will be useful for policymakers who want to learn from the Eurozone's experience with the financial crisis and the importance of complete institutional architectures and inter-country economic convergence. It will also serve as a reference to students and researchers who would like more in-depth analysis of the crisis and the Eurozone's fiscal, monetary and institutional past, present, and future.