1. Introduction 2. The Launch of the Euro and Economic Performance 3. The Economic and Monetary Union Model: Theoretical Underpinnings of Macroeconomic Policy 4. Monetary Policy in the Economic and Monetary Union 5. Fiscal Policy in the Economic and Monetary Union 6. Employment Strategies 7. Macroeconomic Policies for Full Employment and Low Inflation 8. The Future of the Euro 9: Economic Convergence and/or Political Integration