David Begg is Professor of Economics at Birkbeck College, University of London, and a Research Fellow in CEPR's International Macroeconomics and Transition Economics research programmes. He is a recognized authority on monetary, fiscal and exchange-rate issues; has written extensively on the EMS and EMU, and undertook a major study for the IMF on monetary and exchange-rate policies in economies in transition. He has also served as an Adviser to the European Commission, the Bank of England, HM Treasury, and to Committees of the House of Lords and House of Commons. He contributes regularly to th...