"Fully revised and updated following monetary union in Europe, this textbook examines recent events from both economic and political perspectives, covering costs and benefits in a scrupulously balanced account. New topics are the conduct of monetary policy in Euroland and the position of the euro in financial markets." "Paul De Grauwe's analysis provides a readable account of all the crucial issues surrounding monetary union, and is ideal for all students of international economics, economic integration, and European economics."--Jacket.