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Monetary Union and European Integration

In: European Monetary Union: The Kingsdown Enquiry

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  • Ian D. Davidson

Abstract

Economic and monetary union is often discussed as though it is an economic and monetary project with important political side effects. This is a profound misunderstanding. The project for economic and monetary union, like every other important innovation in the history of the European Community, is essentially a political undertaking, of which the economic and monetary aspects are the practical expression. Indeed the entire enterprise of European integration is, and has always been, essentially a political enterprise. Many or even most of the manifestations of European integration are economic; but they cannot be understood, and they would not have been undertaken, except as part of a broader political enterprise.

Suggested Citation

  • Ian D. Davidson, 1996. "Monetary Union and European Integration," Palgrave Macmillan Books, in: Christopher Taylor (ed.), European Monetary Union: The Kingsdown Enquiry, chapter 7, pages 36-39, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24825-4_7
    DOI: 10.1007/978-1-349-24825-4_7
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