Despite its very recent introduction, the social and political impact of the European Monetary Union (EMU) can already be felt throughout the entire European Community. Indeed, many academics concur that the intensification of the economic integration brought about by EMU will accelerate the already evident process of structural economic change in the Member States, and undoubtedly strengthen their competitive position thanks to common employment strategies. Furthermore, it has been noted that the single currency has also served to encourage trade unions to communicate more amongst themselves to try to achieve more cross-border co-ordination of strategies and demands in the hope of counteracting any risk of a possible downward spiral rooted in EMU.
International Journal of Comparative Labour Law and Industrial Relations