Publication

The start of Economic and Monetary Union (EMU) has been a watershed event with significant implications for European affairs and Europe’s place in the wider world. And while some aspects of EMU are, by necessity, shrouded in uncertainty, the signs are that this gamble has paid off. Let’s be clear about this: EMU has been a success. The doomsayers got it wrong. It has boosted investment and innovation in the euro-zone, strengthened cooperation among its participants on budgetary policies, facilitated progress toward the creation of an integrated European capital market and advanced the broader process of economic reform.