Originally written for the Swedish debate before the referendum in September 2003, when the euro was rejected by a vast majority. Rational or irrational by the voters? Judge from this volume which presents significant arguments against the common currency. Includes essays on the political and cultural economy of currency unions and monetary regimes, on the Stability and Growth Pact, on the European Central Bank, on the costs and benefits for Sweden as well as for Britain of adopting the euro, and an evaluation of the first four years of the EMU.The book contributes to the on-going debate about the EMU, in Britain and elsewhere. For example, the erosion of the Stability Pact in November 2003 is more or less predicted and analyzed by several authors in this volume, before it happened.