DIANE ABBOTT Member of the Labour Party National ExecutivePHILIP ARESTIS Professor Economics, University of East LondonLORD CURRIE OF MARYLEBONE Professor of Economics, London Business SchoolSTEPHEN DAVIES Economic Research Executive, Policy Unit of the Institute of DirectorsJOHN EDMONDS General Secretary, General, Municipal and Boilermakers' Trades UnionBARRY EICHENGREEN John L. Simpson Professor of Economics and Political Science, University of California, BerkeleyWALTER ELTIS Visiting Professor, University of ReadingCHRISTOPHER HASKINS Chairman of Northern Foods plcNIGEL HEALEY Professor and Head, Department of Business Studies, Manchester Metropolitan UniversitySIR EDWARD HEATH Conservative Member of Parliament, former Prime Minister of the UK (1970-1974)RICHARD LAYARD Professor of Economics, London School of Economics and Political Science JONATHAN MICHIE Professor of Management, Birbeck College, University of LondonPATRICK MINFORD Professor of Economics, Cardiff Business SchoolJOHN MONKS General Secretary, Trades Union Congress (TUC)GILES RADICE Chairperson, Treasury Select CommitteeJOHN REDWOOD Conservative Member of ParliamentMALCOLM SAWYER Professor and Head of Economics Division, University of LeedsLORD SIMON OF HIGHBURY Minister of State, Department of Trade and Industry

'In this fascinating collection of articles, nine economists evaluate the economic and policy implications of economic and monetary union (EMU) for Britain.' - The Morning Star

• Preface Acknowledgements List of Contributors Introduction: An Overview of European Monetary Integration; M.Baimbridge, B.Burkitt & P.Whyman PART I: THE ECONOMICS OF A SINGLE CURRENCY The Case for European Monetary Union; N.M.Healey The Economic Consequences of EMU for Britain; J.Michie Joining Europe's Currency; R.Layard The Single Currency - Will it Work and Should We Join?; P.Minfold PART II: ECONOMIC POLICY CONSEQUENCES OF A SINGLE CURRENCY Saving Europe's Automatic Stabilisers; B.Eichengreen The Deflationary Consequences of the Single Currency; P.Arestis & M.Sawyer EMU: Threats and Opportunities for Companies and National Economies; Lord Currie of Marylebone British EMU Membership Would Create Instability and Destroy Employment; W.Eltis PART III: WORK, EMPLOYMENT AND BUSINESS The Case for the Single Currency; C.Haskins EMU and the Opportunities for British Business; Lord Simon of Highbury Business Attitudes to EMU and the Risk to Stability; S.Davies A Single Currency for Europe - Considerations for Workers; J.Monks The Single Currency and the European Social Model; J.Edmonds PART IV: SOVEREIGNTY AND POLITICAL DETERMINATION Sovereignty in the Modern World; E.Heath Sterling Democracy or European Bureaucracy?; J.Redwood The Case for the European Single Currency and for the UK Joining It; G.Radice The Case Against the Maastricht Model of Central Bank Independence; D.Abbott Glossary Index

DIANE ABBOTT Member of the Labour Party National ExecutivePHILIP ARESTIS Professor Economics, University of East LondonLORD CURRIE OF MARYLEBONE Professor of Economics, London Business SchoolSTEPHEN DAVIES Economic Research Executive, Policy Unit of the Institute of DirectorsJOHN EDMONDS General Secretary, General, Municipal and Boilermakers' Trades UnionBARRY EICHENGREEN John L. Simpson Professor of Economics and Political Science, University of California, BerkeleyWALTER ELTIS Visiting Professor, University of ReadingCHRISTOPHER HASKINS Chairman of Northern Foods plcNIGEL HEALEY Professor and Head, Department of Business Studies, Manchester Metropolitan UniversitySIR EDWARD HEATH Conservative Member of Parliament, former Prime Minister of the UK (1970-1974)RICHARD LAYARD Professor of Economics, London School of Economics and Political Science JONATHAN MICHIE Professor of Management, Birbeck College, University of LondonPATRICK MINFORD Professor of Economics, Cardiff Business SchoolJOHN MONKS General Secretary, Trades Union Congress (TUC)GILES RADICE Chairperson, Treasury Select CommitteeJOHN REDWOOD Conservative Member of ParliamentMALCOLM SAWYER Professor and Head of Economics Division, University of LeedsLORD SIMON OF HIGHBURY Minister of State, Department of Trade and Industry

'In this fascinating collection of articles, nine economists evaluate the economic and policy implications of economic and monetary union (EMU) for Britain.' - The Morning Star

• Preface Acknowledgements List of Contributors Introduction: An Overview of European Monetary Integration; M.Baimbridge, B.Burkitt & P.Whyman PART I: THE ECONOMICS OF A SINGLE CURRENCY The Case for European Monetary Union; N.M.Healey The Economic Consequences of EMU for Britain; J.Michie Joining Europe's Currency; R.Layard The Single Currency - Will it Work and Should We Join?; P.Minfold PART II: ECONOMIC POLICY CONSEQUENCES OF A SINGLE CURRENCY Saving Europe's Automatic Stabilisers; B.Eichengreen The Deflationary Consequences of the Single Currency; P.Arestis & M.Sawyer EMU: Threats and Opportunities for Companies and National Economies; Lord Currie of Marylebone British EMU Membership Would Create Instability and Destroy Employment; W.Eltis PART III: WORK, EMPLOYMENT AND BUSINESS The Case for the Single Currency; C.Haskins EMU and the Opportunities for British Business; Lord Simon of Highbury Business Attitudes to EMU and the Risk to Stability; S.Davies A Single Currency for Europe - Considerations for Workers; J.Monks The Single Currency and the European Social Model; J.Edmonds PART IV: SOVEREIGNTY AND POLITICAL DETERMINATION Sovereignty in the Modern World; E.Heath Sterling Democracy or European Bureaucracy?; J.Redwood The Case for the European Single Currency and for the UK Joining It; G.Radice The Case Against the Maastricht Model of Central Bank Independence; D.Abbott Glossary Index