By Collin Constantine (Kingston University) and Johanna Renz (University of Oxford)

A powerful core and a powerless periphery – these are features of the European Monetary Union (EMU). The union has gone much further than Latin America and the Caribbean (LAC) in its integration efforts and has suffered from a severe economic crisis. Since LAC’s economic integration is still ongoing, it can and should learn from the EMU’s mistakes before it is too late.