It is no secret that Euroland's economic performance leave smuch to wish for. Except for a brief period in the late 1990s subdued GDP growth in much of the euro area has disappointed the high hopes many had previously held out for Europe's future under a Maastricht-style EMU. This book argues that a macroeconomic perspective is useful in assessing Euroland's economic malaise and its global ramifications, and examines issues of monetary policy, fiscal policy, exchange rates, potential lessons to be learnt from the US, and the balance between the EU acting either as global player or global drag.
