The book discusses the relationship between monetary integration and political integration in Europe. The first part of the book is an historical analysis of European monetary integration. In this part the long-term dynamics of monetary integration and the reasons because of the different member states accepted to surrender monetary sovereignty are explained. The second part deal with the politics of monetary integration and its consequences both in Western Europe and the new member states that joined EU since 2004. In the third part theories of European integration are discussed in the light of the monetary integration experience. Also, assumptions about the future of EMU and the possibility of it disintegration are introduced. The main finding of the book is that political and monetary integration are separate processes and that complete monetary integration and the introduction of euro do not grant political integration advancement.