One of the boldest economic, monetary, and political projects in modern history, the Euro-Zone represents the single most important step in European Integration since 1957. In this first major study, Kenneth Dyson examines the major political questions raised by the birth of the Euro-Zone on January 1, 1999 and argues for a more politically informed analysis and assessment of its nature, operation, and prospects.

• 1: How the Euro-Zone operates: An ECB-Centric Euro-Zone?


• 2: How the Euro-Zone Operates: A 'Two-Level' Game, a Child of the Franco-German 'Couple' or a New 'Motor' for Europe?


• 3: How the Euro-Zone Operates: 'Hollowing Out' or rescue of the European State?


• 4: How the Euro-Zone Operates: The Institutional Approach


• 5: The Problem of Stability int he Euro-Zone: Lessons from History and Economics


• 6: The Prospects for a Stable Euro-Zone: A Strength-Strain Model