The single currency became a tangible reality for citizens with the entry into circulation of euro tes and coins. Nonetheless, without any other institutions of a federal kind, this centralisation of monetary policy raises a number of questions. This volume addresses one key aspect of the matter: what type of wage policy is best suited to a unified monetary area? After describing the past situation and present-day implications, it offers various hypotheses as to possible forms of wage policy at European level. The authors' aim is to put forward a wide range of views, both as to what would be desirable in terms of ecomic efficiency and what appears likely in terms of the stakeholders and policies. The second part of this book examines wage policy developments in five Member States (Germany, Belgium, Spain, Ireland and France) where the nature of wage co-ordination differs. It is also evident from recent developments in all of these countries that thing is set in stone. This publication, compiled by well-kwn experts in the field of industrial relations, explores the various possible scenarios and their consequences in respect of equity and efficiency.
The Editor: Philippe Pochet has been Director of the Observatoire social europeen (Brussels) since 1992. He is the Digest editor of the Journal of European Social Policy, affiliate at the Centre of European Studies (Universite Libre de Bruxelles) and also Invited Lecturer at the Universite Catholique de Louvain, where he co-chairs the study group on Active Welfare State with P. Vielle. His main research fields are: social impacts of the monetary union, social dimension of the European Union and challenges of the globalisation process. He has recently edited Monetary Union and Collective Bargaining in Europe (P.I.E.-Peter Lang, 1999), Social Pacts in Europe - New Dynamics with G. Fajertag (2000).