This text investigates the structural and medium-term economic consequences of the introduction of the euro on the integration and functionality of European capital markets. The authors, Jean Dermine and Pierre Hillion, assemble a collection of expert contributions from diverse financial and academic backgrounds to evaluate how a unified currency alters market dynamics. By synthesizing research from various European nations, the book provides a framework for understanding the transition toward a singular financial landscape in the wake of the 1999 currency adoption.

Experts recognize this work as a foundational academic text for understanding the early institutional challenges of the European Monetary Union. Readers frequently note the technical density of the prose, which is tailored for students and professionals in finance and economics.