The recent euro crisis and the dramatic increase of unemployment in some European countries have triggered a renewed interest in giving the EU the capability to stabilize the economies of its member states. One of the proposed instruments is a common European unemployment insurance program. In this book, Sebastian Dullien offers a blueprint for developing such a continent-wide program and evaluates its chances for success. Buildingo in lessons from the administration of unemployment insurance in the United States, he outlines how a European unemployment benefit program could be constructed to provide significant stabilization to national business cycles without strongly extending social protection in Europe. The book provides a simulation of macroeconomic stabilization effects and payment flows between countries and discusses options, potential pitfalls, and existing concerns.