Part VI Monetary Unions and other Forms of Monetary Organization, 31 The Euro and Monetary Sovereignty

31.01 The process of monetary union has, without question, resulted in the transfer of national monetary sovereignty from Member States to entities subsisting within the framework of the EC Treaties. Indeed, for a number of years, the perceived desire to preserve sovereignty in this area lay at the heart of the continuing political debate about the United Kingdom's (non-)membership of the eurozone.1 It has, however, been shown that monetary sovereignty is not a single and indivisible concept; apart from any other classifications which might be adopted, monetary...