Despite the promise that the Economic and Monetary Union will promote prosperity and harmony, Europeans have met its arrival largely with indifference or suspicion. This lack of enthusiasm is likely to tame the ambitious of those who would try to manipulate the EMU for private gain—at least in the short run.

Enrico Colombatto is Professor of Economics at the University of Turin and Director of the International Centre for Economic Research in Turin, Italy.
EuropeInternational Economics and Development
Other Independent Review articles by Enrico Colombatto
Spring 2022 Tax Tyranny
Winter 2011/12 Is There a Health-Care Problem in Western Societies?
Summer 2008 The European Economy since 1945: Coordinated Capitalism and Beyond
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