On January 1, 1999, 11 European countries unified their currencies--48 years after their first integrative efforts. This marks a huge development in the structure of Europe and the world's economy. This case examines the integrative process, the Single Europe Act and its impact on market structure during the past 13 years, and monetary union. Provides data as of 1998 on European macroeconomics integration and data in the mid-1990s on integration of product markets, capital markets, and labor markets.

Supplements the case.

After highlighting some key developments in the banking history of the United States, the case illustrates the Banking Panic of 1933 and the way in which Franklin D. Roosevelt dealt with it at the beginning of his presidency. Describes the main components of banking reform bills that members of Congress proposed in April 1933. Deposit insurance figured prominently in these bills, and the case summarizes the contemporary debate surrounding this proposed insurance.