European Monetary Union: The Way Forward analyses the economic effects of the changeover to a unified European currency and assesses the pressures caused by a dual-currency system over the three and a half years transition period to the Euro. Subjects discussed include: fiscal transfer payments: the implications of the US structure for the EMU the arbitrage consequences of parallel currency 1999-2002 the feasibility of a single currency without the exchange rate mechanism the relationship between the UK and Europe accounts of moves towards monetary union in Austria, Portugal and Finland. Providing a detailed overview of the financial implications of European Monetary Union, this collection contains contributions by professional financial specialists from a number of European countries. It will be extremely useful for all those studying contemporary European economics and politics.