This book investigates the structural viability and economic implications of the European single currency as a transformative force for global financial markets. Michael Artis and a collective of financial experts utilize the framework of the Maastricht Treaty to analyze how the Euro alters the landscape for monetary authorities and corporate entities. The text evaluates whether the emerging European capital market possesses the necessary scale and liquidity to compete with established American financial systems.

Experts recognize this work as a foundational examination of the early institutional challenges faced by the European Central Bank. Readers frequently note the academic density of the prose, which provides a rigorous technical overview of the transition to a single currency.