To What Extent Do You Agree With Those Who Argue That The Uk Should Join The European Monetary Union Emu

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To what extent do you agree with those who argue that the UK should join the European Monetary Union (EMU)?

Author : Alexander Dürr
Publisher : GRIN Verlag
ISBN 13 : 3638335569
Total Pages : 13 pages
Book Rating : 4.6/5 (383 download)

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Book Synopsis To what extent do you agree with those who argue that the UK should join the European Monetary Union (EMU)? by : Alexander Dürr

Download or read book To what extent do you agree with those who argue that the UK should join the European Monetary Union (EMU)? written by Alexander Dürr and published by GRIN Verlag. This book was released on 2005-01-04 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2004 in the subject Business economics - Economic Policy, grade: 2,3, Leeds Metropolitan University (Leeds Business School), course: EU Policy & Business, language: English, abstract: "Was it over the line?" – maybe one of the most import questions ever in England’s football history. Few if any goal has been discussed more often. At 2-2 in extra time in the 1966 final against West Germany, with eleven minutes of extra time gone, Geoff Hurst shot from fairly close in and the ball hit the underside of the cross bar, bounced down - apparently near the line - and was cleared. The referee awarded a goal after speaking to the linesman. Did the third goal cross the line? It is impossible to know for certain. The final whistle blew. England had won the World Cup at Wembley for the first time (EFL Reading, 2004). Obviously this decision of the referee brought the World cup to England . In politics, where decision have to be made every time, there are sometimes situations of uncertainty. Not always can a decision be made from the comfortable situation that everything is 100 per cent clear and the foreseeable benefit can convince even the hardest doubter. One of these situations for the United Kingdom nowadays is the question if they should join the EMU.

Should the UK become a member of the European Monetary Union?

Author : Helen Mueller
Publisher : GRIN Verlag
ISBN 13 : 3638125882
Total Pages : 20 pages
Book Rating : 4.6/5 (381 download)

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Book Synopsis Should the UK become a member of the European Monetary Union? by : Helen Mueller

Download or read book Should the UK become a member of the European Monetary Union? written by Helen Mueller and published by GRIN Verlag. This book was released on 2002-05-11 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2001 in the subject Business economics - Miscellaneous, grade: 1.7 (A-), Oxford Brookes University (School of Business), course: Business Environment UK, language: English, abstract: Background of EMU and current situation of the UK Since 1952 when the European Coal and Steel Community was founded the face of Europe has changed a lot. Barriers have been removed to enable goods, services, investment and people to move freely within the Community and politicians worked hard to get closer to the ideal of a political and economical united Europe. In two months the next major step will be taken by 12 nations of the European Union: The EURO will replace the old currencies. But Britain, although a member of the European Union, will not participate in Euro-zone in the foreseeable future. In 1991 the Maastricht Treaty (Treaty on European Union) was signed in order to extend the Treaty of Rome (1957). One part of this Treaty was the formation of an economic and monetary union (EMU). Therefore the European Central Bank (ECB) was established and a new currency - the ECU, today called Euro. The ECB shall replace the national central banks and its "primary objective is to maintain a low and stable rate of price inflation for the euro currency." 1) Although Britain had joined the exchange rate system (ERS), the so called "parity grid" of the European Monetary System (EMS) in 1990 and had also signed the Maastricht Treaty it was forced to leave the EMS on Wednesday, 16 September 1992, known as "Black Wednesday". Sterling had dropped below the "floor" of the grid and all measures to support the currency failed. The UK gained opt-outs from stage 3 of EMU during the Maastricht conference, which means: "UK shall notify the council whether it intends to move to the third stage, and that unless it does, it will be under no obligation to do so." 2) Now, as the EMU comes closer the subject presses hard on the Blair-government but a date for the planned referendum, which shall bring a decision, is still not stated. [...]

Should UK enter the EMU

Author : Hartwin Maas
Publisher : GRIN Verlag
ISBN 13 : 3640144287
Total Pages : 25 pages
Book Rating : 4.6/5 (41 download)

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Book Synopsis Should UK enter the EMU by : Hartwin Maas

Download or read book Should UK enter the EMU written by Hartwin Maas and published by GRIN Verlag. This book was released on 2008-08-25 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2005 in the subject Business economics - Economic Policy, grade: 1,2, Arnhem Business School (Arnhem Business School), course: International Economics, language: English, abstract: Since the beginning of the idea of the European Monetary Union (EMU), UK had a negative attitude towards a single monetary policy with a single currency. This antipathy was amplified on the one hand by the withdrawal of the European Exchange Rate Mechanism in 1992 caused by different economic policies, oil price rises and German unification and on the other hand by the launch of the EMU in 1999. In fact the UK government starts to work towards cooperation with the EMU by setting specific goals. But before taking further steps, the criteria of the Maastricht Treaty have to be fulfilled and the five economic tests assessed by the UK government have to be passed. Since 1997 the UK has made real progress towards meeting the five economic tests. Although there are arguments that in a long term the payback of joining EMU offset the costs, the benefits are too low and the costs too high at the moment. The idea of one currency in Europe has been around for many years. But according to Pitchford the true launching of the EMU process dates from the Werner Committee which was set up in 1970 and submitted its final report, called 'the Werner Report', in February 1971. The first major step for the implementation of the Werner plan was the European 'currency snake' in 1972. Through this arrangement the fluctuations between participants' exchange rates should be limited to ± 2.25%. However, this process was not effective because of the collapse of the Bretton-Woods regime which determined a fixed exchange rate in terms of gold. The UK joined the snake system just for one month. A further step was the creation of the European Monetary System (EMS) in 1979. The main objective of this system was to create monetary stability in Europe. This should be realized by the fixed rates between the currencies of the participating countries which where settled on their value against the European Currency Unit (ECU4). The UK did not join in the EMS and was still remote at the time of Delors Report in 1989.

Should Britain Join the Euro?

Author : Patrick Minford
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Should Britain Join the Euro? by : Patrick Minford

Download or read book Should Britain Join the Euro? written by Patrick Minford and published by . This book was released on 2002 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: P. 13.

The Euro - Should Britain Join the European Monetary Union?

Author : Florian Langhammer
Publisher : GRIN Verlag
ISBN 13 : 3640861787
Total Pages : 29 pages
Book Rating : 4.6/5 (48 download)

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Book Synopsis The Euro - Should Britain Join the European Monetary Union? by : Florian Langhammer

Download or read book The Euro - Should Britain Join the European Monetary Union? written by Florian Langhammer and published by GRIN Verlag. This book was released on 2011-03 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2001 in the subject Economics - Monetary theory and policy, grade: 2,0 (B), Oxford Brookes University (Business School), course: Business Environment of the UK, language: English, abstract: HISTORICAL INTRODUCTION OF THE EMU With the Maastricht Treaty the EC heads of state and government agreed on a three-legged "European Union" (EU) on December 9 and 10, 1991, which should include a common foreign and security policy, cooperation on domestic and security policy and the creation of a European Economic and Monetary Union (EEMU). The European Monetary Union (EMU) is to be effected according to a concrete time schedule - the three-stage plan which was agreed upon in the Maastricht Treaty and the conversion plan which was decided December 1995. To ensure the stability of a single currency, especially in the initial phase, the states participating in the EMU must satisfy the following convergence criteria as constituted in the Maastricht treaty: 1. Inflation criteria: Price stability with no more than 1.5 percentage points above the inflation rate of the top three member states. [...]

Should the UK become a member of EMU? Critically evaluate the pros and cons of this decision for the UK's economic and business environment

Download Should the UK become a member of EMU? Critically evaluate the pros and cons of this decision for the UK's economic and business environment PDF Online Free

Author : Rainer Wargitsch
Publisher : Grin Publishing
ISBN 13 : 9783638770903
Total Pages : 36 pages
Book Rating : 4.7/5 (79 download)

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Book Synopsis Should the UK become a member of EMU? Critically evaluate the pros and cons of this decision for the UK's economic and business environment by : Rainer Wargitsch

Download or read book Should the UK become a member of EMU? Critically evaluate the pros and cons of this decision for the UK's economic and business environment written by Rainer Wargitsch and published by Grin Publishing. This book was released on 2007 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2001 in the subject Business economics - Economic Policy, grade: 2.0 (B), Oxford Brookes University (School of Business), course: Module 7544, 16 entries in the bibliography, language: English, abstract: On January 1st 1999 the Euro ( ) became the official currency in the participating countries inside the European Union. France, Germany, Spain, Portugal, the Netherlands, Belgium, Luxembourg, Austria, Italia, Ireland, Finland and Greece introduced this currency as the new single currency, while the national currency is still valid and in use, as the Euro is not yet available in coins and notes. Though the exchange rates between the currencies were irrevocably fixed. In less than two months, on January 1st 2002, the Euro will be introduced, and from that day on the Euro notes and coins are in use. Despite of many advantages, that′ll be explained later in this coursework, a few countries of the EU did not join the European Economic and Monetary Union (EMU) and have not introduced the Euro. Sweden, Denmark and Great Britain refused to take part in the EMU and preferred to sustain their own currencies. This coursework faces the question whether the UK should join the EMU. I will analyse the advantages and the disadvantages of the EMU for UK′s economic and business environment.

Should Uk Enter the Emu

Author : Hartwin Maas
Publisher : GRIN Verlag
ISBN 13 : 3640148894
Total Pages : 54 pages
Book Rating : 4.6/5 (41 download)

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Book Synopsis Should Uk Enter the Emu by : Hartwin Maas

Download or read book Should Uk Enter the Emu written by Hartwin Maas and published by GRIN Verlag. This book was released on 2008-09 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2005 in the subject Business economics - Economic Policy, grade: 1,2, Arnhem Business School (Arnhem Business School), course: International Economics, language: English, abstract: Since the beginning of the idea of the European Monetary Union (EMU), UK had a negative attitude towards a single monetary policy with a single currency. This antipathy was amplified on the one hand by the withdrawal of the European Exchange Rate Mechanism in 1992 caused by different economic policies, oil price rises and German unification and on the other hand by the launch of the EMU in 1999. In fact the UK government starts to work towards cooperation with the EMU by setting specific goals. But before taking further steps, the criteria of the Maastricht Treaty have to be fulfilled and the five economic tests assessed by the UK government have to be passed. Since 1997 the UK has made real progress towards meeting the five economic tests. Although there are arguments that in a long term the payback of joining EMU offset the costs, the benefits are too low and the costs too high at the moment. The idea of one currency in Europe has been around for many years. But according to Pitchford the true launching of the EMU process dates from the Werner Committee which was set up in 1970 and submitted its final report, called 'the Werner Report', in February 1971. The first major step for the implementation of the Werner plan was the European 'currency snake' in 1972. Through this arrangement the fluctuations between participants' exchange rates should be limited to ± 2.25%. However, this process was not effective because of the collapse of the Bretton-Woods regime which determined a fixed exchange rate in terms of gold. The UK joined the snake system just for one month. A further step was the creation of the European Monetary System (EMS) in 1979. The main objective of this system was to create monetary stability in Europe. This should be realized by the fixed rates between t

European Identity and EMU

Author : Esther Kemmer
Publisher : GRIN Verlag
ISBN 13 : 3638368858
Total Pages : 13 pages
Book Rating : 4.6/5 (383 download)

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Book Synopsis European Identity and EMU by : Esther Kemmer

Download or read book European Identity and EMU written by Esther Kemmer and published by GRIN Verlag. This book was released on 2005-04-20 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Politics - Topic: European Union, grade: English: 6,5 out of 10, Maastricht University, language: English, abstract: Europe is coming closer together, this is shown in many parts of daily life. It is often argued that money is one of the best-known and most effective tools in symbolising the “united Europe”, the EU. Most of the member states of the European Union who matched the criteria of the Growth and Stability Pact seem to have agreed to this and joined the Economic and Monetary Union (EMU) as soon as it was introduced. But why were there some who decided not to exchange their national currency in favour for the common European one? Did they not feel an affinity with other Europeans? Did they not see that all Europeans are part of a community which is trying to express its unity through a common currency? Or did they not view the Euro ideologically, but rationally? And if they did what does this tell us about their European Identity? In short, is it necessary to join the Economic and Monetary Union to be a European? This article tries to answer these questions by looking for reasons why Denmark, The United Kingdom and Sweden decided not to accept the Euro, in particular looking for similarities, and their relation to the development of a single European Identity. [...]

Britain and EMU

Author : Graham Bishop
Publisher :
ISBN 13 : 9781901229059
Total Pages : 100 pages
Book Rating : 4.2/5 (29 download)

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Book Synopsis Britain and EMU by : Graham Bishop

Download or read book Britain and EMU written by Graham Bishop and published by . This book was released on 1997 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the deadline for the start of Economic and Monetary Union approaches, the British debate on the single currency is shifting. The contributors to this pamphlet believe that the time has come to state the case for British membership of the single currency.

Britain, Emu and the European Economy

Author : Steve Bradley
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Britain, Emu and the European Economy by : Steve Bradley

Download or read book Britain, Emu and the European Economy written by Steve Bradley and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In January 1999, 11 member countries of the European Union 'irrevocably' locked the foreign exchange values of their currencies to the euro, and they committed themselves to abandon their currencies in favour of the euro in 2002. As a result, these countries ceased to operate independent monetary policies. Monetary policy for the whole euro-zone became the responsibility of the European Central Bank (ECB), whose primary objective is to maintain a low and stable rate of price inflation for the euro currency. The rules governing Economic and Monetary Union (EMU) were laid down in the treaty of Maastricht in 1992. As conditions for entry to EMU, the treaty specified 'convergence criteria', which consisted of upper limits for several macroeconomic aggregates, including, notably, a 3 percent maximum for the ratio of the public sector deficit to GDP and 60 percent for the ratio of public debt to GDP. In February 1998, the 11 applicant countries submitted statistical analyses relating to their satisfaction of these conditions. Despite doubts as to whether some of them had strictly met the conditions, the European Commission deemed them all eligible, and the euro was launched. The British government, though more clearly eligible than most other EU countries on the basis of the convergence criteria, decided to defer its decision on entry. In this paper, we consider the arguments for and against Economic and Monetary Union, and in particular whether it would be in Britain's interest to join. We begin with a brief review of the state of the European economy and an analysis of the first year performance of the new Euro currency.

Should Britain Leave the EU?

Author : Patrick Minford
Publisher : Edward Elgar Publishing
ISBN 13 : 1785360337
Total Pages : 257 pages
Book Rating : 4.7/5 (853 download)

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Book Synopsis Should Britain Leave the EU? by : Patrick Minford

Download or read book Should Britain Leave the EU? written by Patrick Minford and published by Edward Elgar Publishing. This book was released on 2015-12-18 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Placed in the context of the upcoming referendum, this second edition brings up to date a thorough review of all economic aspects of the UK's membership of the EU. It notes the intention of the EU to move to 'ever closer union' and the nature of the regulatory and general economic philosophy of its dominant members, whose position is enforced by qualified majority voting. The book highlights the UK’s dilemma that, while extending free markets to its local region is attractive, this European philosophy and closer union are substantially at odds with the UK's traditions of free markets and freedom under the common law. This comprehensive examination of the economic costs and benefits of membership uses state-of-the-art modeling methods and includes estimates of its net costs as a percentage of GDP. The book explains how the decision to leave would follow from a judgement on the political economy of the EU as compared with that of the UK. It details the misconceptions involved in much of the debate about trade with the EU, and argues that the key issue is not access to markets but rather the prices at which trade takes place. Covered in careful detail is the economics of the UK’s trade with the EU in the key sectors of agriculture, manufacturing, and services.

After the Euro

Author : Colin Crouch
Publisher : OUP Oxford
ISBN 13 : 0191522643
Total Pages : 304 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis After the Euro by : Colin Crouch

Download or read book After the Euro written by Colin Crouch and published by OUP Oxford. This book was released on 2000-03-09 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now that the process of full implementation of European Monetary Union has begun, it is time to shift attention away from the process of introduction to the implications that the common currency will have for a wide range of institutions and policy areas. The wider political and social institutions of the European Union are not well developed there is an institutional deficit which parallels the more widely know democratic deficit. Monetary arrangements of nation states are imbedded in a range of political, cultural, economic and historical factors. Will mechanisms of these kinds eventually develop at the European level? Can national structures adapt to meet the challenge? The contributors to After the Euro tackle these questions and in doing so, take the debate beyond the economic and sovereignty questions which have so far dominated the debate.

‘A single currency for Europe is a good thing and the sooner the UK joins the Euro, the better.’ Do you agree?

Author : Matthias Kammerer
Publisher : GRIN Verlag
ISBN 13 : 363889908X
Total Pages : 14 pages
Book Rating : 4.6/5 (388 download)

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Book Synopsis ‘A single currency for Europe is a good thing and the sooner the UK joins the Euro, the better.’ Do you agree? by : Matthias Kammerer

Download or read book ‘A single currency for Europe is a good thing and the sooner the UK joins the Euro, the better.’ Do you agree? written by Matthias Kammerer and published by GRIN Verlag. This book was released on 2008-01-23 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2005 in the subject Economics - Monetary theory and policy, grade: 1,0, University of Northampton, course: European Policy Issues, language: English, abstract: On 1.January 1999 the European single currency, the Euro, was officially introduced. At that point eleven member states wanted to be a part of this significant leap and fulfilled the necessary criteria determined by the Growth & Stability-Pact (GSP) in 1997. Greece as the twelfth member joined in 2001. On 1.January 2002 the Euro was distributed and became the single currency for the partaking countries. This date marked only the final step in a long history of desire for a fixed exchange rate system and a monetary union within Europe – with a single currency as the summit of this ambition. In this essay I want to analyse if a single currency is a good thing for the EU and what the drawbacks are respectively. Later I will deal with the question if the UK should join the Euro soon – if at all. ...

The Pros and Cons of EMU

Author : David A. Currie
Publisher :
ISBN 13 :
Total Pages : 128 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis The Pros and Cons of EMU by : David A. Currie

Download or read book The Pros and Cons of EMU written by David A. Currie and published by . This book was released on 1997 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

One Money for Europe?

Author : Malcolm Crawford
Publisher : Palgrave Macmillan
ISBN 13 : 9780333666807
Total Pages : 377 pages
Book Rating : 4.6/5 (668 download)

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Book Synopsis One Money for Europe? by : Malcolm Crawford

Download or read book One Money for Europe? written by Malcolm Crawford and published by Palgrave Macmillan. This book was released on 1996-11-07 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe is on the road to monetary union (EMU) even if there may be delays and diversions on the way. The focal point of EMU will be its single currency, valid throughout all participating countries, and replacing the national currencies. There will be considerable transitional pain and stress, most of all for member states with very high public debts. For the rest, the road ahead will not be smooth, but should be assisted by easier monetary policy in Germany since 1993. For some countries at least, the pain will be aggravated unnecessarily by design defects in the transitional rules for entry - which there is still time to remedy. The author - no admirer of a federal Europe - describes how EMU could actually work better in a confederal Europe with no federal chief executive and with a relatively weak Parliament. The independent Eurofed would be responsible for managing economic policy on an EC-wide basis, while national governments could use fiscal policies to mitigate local deviations. Weak regions and poor peripheral countries would require more flexible assistance from EC resources, however.

Should Britain Join the Euro?

Author : Patrick Minford
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Should Britain Join the Euro? by : Patrick Minford

Download or read book Should Britain Join the Euro? written by Patrick Minford and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: European economic and monetary union is driven by politics, but the economic costs and benefits of Britain's membership can and should be assessed, argues Professor Patrick Minford in this careful and succinct analysis of the cases for and against Britain adopting the euro. The core argument in favour is the reduction of exchange-rate risk, but because the euro is a regional currency that has fluctuated considerably against the dollar, exchange-rate variability might not be less under the euro and could even increase. In any case, financial markets can diversify away such risks. Minford sees substantial costs of membership: increased variability of UK output, employment and prices in response to shocks; damaging harmonisation of tax rates, social support and regulation; and the possibility that British taxpayers will have to meet some of the costs of big projected state pension deficits in Germany, France and Italy. He concludes that EMU, 'as it is constituted and planned would be strongly against British interests to join'

Differentiated Integration

Author : Dirk Leuffen
Publisher : Palgrave Macmillan
ISBN 13 : 9780230246430
Total Pages : 0 pages
Book Rating : 4.2/5 (464 download)

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Book Synopsis Differentiated Integration by : Dirk Leuffen

Download or read book Differentiated Integration written by Dirk Leuffen and published by Palgrave Macmillan. This book was released on 2012-10-03 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Far from displaying a uniform pattern of integration, the European Union varies significantly across policy areas, institutional development and individual countries. Why do some policies such as the Single Market attract non-EU member states, while some member states choose to opt out of other EU policies? In answering these questions, this innovative new text provides a state-of-the-art introduction to the study of European integration. The authors introduce the most important theories of European integration and apply these to the trajectories of key EU policy areas – including the single market, monetary policy, foreign and security policy, and justice and home affairs. Arguing that no single theory offers a completely convincing explanation of integration and differentiation in the EU, the authors put forward a new analytical perspective for describing and explaining the institutions and policies of the EU and their development over time. Written by a team of prominent scholars in the field, this thought-provoking book provides a new synthesis of integration theory and an original way of thinking about what the EU is and how it works.