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).

• Preface; 1. The Euro in 2008; 2. Historical background; 3. The ECB and the foundations of monetary policy; 4. The ECB – monetary policy for a stable Euro; 5. The central bank and monetary policy in the EMU framework; 6. Europe at the crossroads; Register of key words; Register of persons.

'It is hard to think of a single monetary event more important than the creation of European Monetary Union. Otmar Issing, the intellectual force behind the first decade of the European Central Bank, has written a brilliant account of the debates and struggles behind the birth of the Euro, an event which has reshaped the world monetary order.' Mervyn A. King, Governor Bank of England