Michael Arghyrou is a senior lecturer in Economics at Cardiff Business School. His main research areas are macroeconomics and international finance. He has published papers on exchange rate determination, current account dynamics, real interest rate convergence, inflation, monetary policy, fiscal policy sustainability and the economics of the Economic and Monetary Union. He has also been working extensively on issues relating to Greek macroeconomic policy. Mr. Arghyrou is a graduate of the Department of Economics of the Athens University of Economics and Business and holds an M.Sc. and a Ph.D. in economics from the University of London, Queen Mary College.