The British Labour Party and monetary union

The real test of the British Labour Party's new orientation to Europe will be its policy on economic and monetary union (EMU). This article analyses L abour's political economy in relation to European integration and to the ma nagement of the currency, and how the intersection of these two have produc ed four distinctive approaches to EMU within the party. It assesses the sta nce of new Labour towards EMU in the context of this internal Labour Party debate as well as in the wider context of European social democracy.