This Open Access book offers a novel view on the benefits of a lasting variation between the member states in the EU. In order to bring together thirty very different European states and their citizens, the EU will have to offer more scope for variation. Unlike the existing differentiation by means of opt-outs and deviations, variation is not a concession intended to resolve impasses in negotiations; it is, rather, a different structuring principle. It takes differences in needs and in democratically supported convictions seriously. A common core remains necessary, specifically concerning the basic principles of democracy, rule of law, fundamental rights and freedoms, and the common market. By taking this approach, the authors remove the pressure to embrace uniformity from the debate about the EU’s future. The book discusses forms of variation that fall both within and outside the current framework of European Union Treaties. The scope for these variations is mapped out in three domains: the internal market; the euro; and asylum, migration and border control.

English Abstract: This paper investigates possible paths of East Asian Monetary Integration. After a brief analysis of current discussions on East Asian economic and monetary integration, the paper presents possible implications of Europe's EMU project for East Asia and the political economy of East Asia as constraints on East Asia's way towards monetary integration. The paper argues that whichever paths East Asia selects, countries in the region have to devise measures that can lead to stability convergence, which was the main success factor for the introduction of single currency in Europe. The paper also presents seven possible paths for East Asian monetary integration, and argues that only four of them are feasible strategic choices. The paper concludes that although all these four paths are potential candidates, they have to be complemented by additional policy instruments. The paper suggests these additional measures be targeted at intensifying stability convergence in East Asia, which was the most important prerequisite for a successful introduction of Euro, the single currency for twelve member countries of the European Union. After a brief efficiency and feasibility test the paper selected the option of “developing the Chiang Mai Initiative to a Multilateral Financing Scheme” as the best short- and medium-term strategy towards monetary integration.