Description: Today, 318 million people in 15 countries use the Euro, which now rivals the importance of the US Dollar in the world economy. This is an outcome that few would have predicted with confidence when the Euro was launched. How can we explain this success and what are the prospects for the future? There is nobody better placed to answer these questions than Otmar Issing, who as a founding member of the Executive Board of the European Central Bank (1998-2006), was one of the Euro's principal architects. His story is a unique insider account, combining personal memoir with reference to the academic and policy literature. Free of jargon, this is a very human reflection on a unique historical experiment and a key reference for all academics, policy makers, and 'Eurowatchers' seeking to understand how the Euro has got to where it is today and what challenges lie ahead.
Brief description: Otmar Issing is University Professor and President of the Center for Financial Studies at the University of Frankfurt and Honorary Professor of the University of Würzburg. He is a former member of the board of the Deutsche Bundesbank (1990-1998) and a founding member of the Executive Board of the European Central Bank (1998-2006).
Review Quotes: "Professor Otmar Issing was an exceptional and decisive actor in making the euro, first as the chief economist and member of the Directorate of the Bundesbank and then as the chief economist and member of the Executive Board of the European Central Bank. His book is remarkable for his accuracy, lucidity and pertinence. It gives the reader the unique perspective of a major decision-maker, who is both a living symbol of the successful transition from the national currencies to the euro and a privileged witness of those historic events."
Jean-Claude Trichet, President of the European Central Bank