This book is an accessible introduction to European monetary integration which provides a historical background to current debates, as well as an analysis of future developments. It includes: a chronology of economic and monetary unification from 1958-1999, a clear non-technical presentation of the economic issues regarding the costs and benefits of creating a monetary union, a detailed presentation of the economic and legal framework for the changeover to a single European currency, an evaluation of the Maastricht Treaty's plan for monetary union, an overview of the debate between the federalist approach and the inter-governmental co-operation approach towards economic and political integration of Europe, and a set of questions and exercises illuminating the more technical parts of the book. This is an excellent resource for all those who want to discover the facts about European monetary integration which lie behind the heated political rhetoric.