Conflict potentials in monetary unions

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The recent establishment of the euro has sparked interest in the history of monetary unions, both successful and unsuccessful. This volume presents contributions that examine the political dimensions of monetary unification and international financial cooperation, highlighting the conflicting societal views on monetary arrangements. The process of monetary unification is often complex, as illustrated by various historical examples, from the creation of the US monetary union in the 18th century to Sweden's euro referendum in the early 21st century. Key topics include the constitutional development of a common currency in the U.S., the transition from monetary to financial union, and the impact of ethnic conflicts on monetary unification in Austria-Hungary. The text also explores the failed Escudo Zone, a colonial monetary union, and the relationship between trade, money, and conflict resolution within monetary unions. Additionally, it compares the gold standard with European integration and discusses the management of a common currency, considering political and cultural preferences. The volume concludes with an analysis of the political economy surrounding Sweden's euro referendum in 2003, providing a comprehensive overview of the challenges and dynamics of monetary unification throughout history.