Summary: New monetary arrangements in the twelve Eurozone countries have sparked numerous questions. Why did these countries eliminate their national currency and adopt the euro? Who controls monetary decisions in the euro area? What exactly is a euro, and how does one measure its value? What causes the exchange rate on the euro to fluctuate?
In this timely, concise, and comprehensive introduction to Europe's new currency, Jay Levin, Professor of Economics and Chair ...show more at Wayne State University, answers these questions by explaining both the historical and political background as well as the economic underpinnings of monetary integration.