Otmar Issing is University Professor and President of the Center for Financial Studies at the University of Frankfurt and Honorary Professor of the University of Würzburg. He is a former member of the board of the Deutsche Bundesbank (1990–1998) and a founding member of the Executive Board of the European Central Bank (1998–2006).

'It is hard to think of a single monetary event more important than the creation of European Monetary Union. Otmar Issing, the intellectual force behind the first decade of the European Central Bank, has written a brilliant account of the debates and struggles behind the birth of the Euro, an event which has reshaped the world monetary order.' Mervyn A. King, Governor Bank of England

• Preface; 1. The Euro in 2008; 2. Historical background; 3. The ECB and the foundations of monetary policy; 4. The ECB – monetary policy for a stable Euro; 5. The central bank and monetary policy in the EMU framework; 6. Europe at the crossroads; Register of key words; Register of persons.

Otmar Issing is University Professor and President of the Center for Financial Studies at the University of Frankfurt and Honorary Professor of the University of Würzburg. He is a former member of the board of the Deutsche Bundesbank (1990–1998) and a founding member of the Executive Board of the European Central Bank (1998–2006).

'It is hard to think of a single monetary event more important than the creation of European Monetary Union. Otmar Issing, the intellectual force behind the first decade of the European Central Bank, has written a brilliant account of the debates and struggles behind the birth of the Euro, an event which has reshaped the world monetary order.' Mervyn A. King, Governor Bank of England

• Preface; 1. The Euro in 2008; 2. Historical background; 3. The ECB and the foundations of monetary policy; 4. The ECB – monetary policy for a stable Euro; 5. The central bank and monetary policy in the EMU framework; 6. Europe at the crossroads; Register of key words; Register of persons.

Otmar Issing is University Professor and President of the Center for Financial Studies at the University of Frankfurt and Honorary Professor of the University of Würzburg. He is a former member of the board of the Deutsche Bundesbank (1990–1998) and a founding member of the Executive Board of the European Central Bank (1998–2006).

'It is hard to think of a single monetary event more important than the creation of European Monetary Union. Otmar Issing, the intellectual force behind the first decade of the European Central Bank, has written a brilliant account of the debates and struggles behind the birth of the Euro, an event which has reshaped the world monetary order.' Mervyn A. King, Governor Bank of England

• Preface; 1. The Euro in 2008; 2. Historical background; 3. The ECB and the foundations of monetary policy; 4. The ECB – monetary policy for a stable Euro; 5. The central bank and monetary policy in the EMU framework; 6. Europe at the crossroads; Register of key words; Register of persons.