UNDERSTANDING THE EURO

The introduction of the Euro will change all our lives. It may prove to be the greates step forward in European unificateion since the Treaty of Rome. Despite official efforts, the European single currency is still poorly understood, and often misinterpreted, In a collection of essays edited by Andrew Duff, the Federal trust sets out the pros and cons of EMU. Written by a team of highly distinguished British authorities, the book does not minimise the risks involved in taking this historic step. The authors are clear about the practicalities, quizzical about the current policy of the British government, but scathing in their criticism of those who oppose the single currency project on the ideological grounds. None dissents from the conclusion of kenneth Clarke's substantial foreword to the book that sterling can and should join EMU sooner rather than later. The book contains a full analysis of the technical aspects of EMU pitched for non-specialist reader. Discussion of the contemporary political debate is equally lively and accessible. Policy-makers, bankers, academics, business and the media cannot afford not to read this influential book. No citizen who wishes to be abreast of the controversy over EMU should miss it.