The Political Economy of Economic and Monetary Union Reform

2020 ◽  
Author(s):  
Andrei-Bogdan Sterescu
Keyword(s):  
Political Economy ◽  
Monetary Union ◽  
Economic And Monetary Union ◽  
The Political

scholarly journals The Political Economy of the European Economic and Monetary Union: Political Sources of an Economic Liability

1997 ◽  
Vol 11 (4) ◽  
pp. 23-42 ◽  
Author(s):  
Martin Feldstein
Keyword(s):  
Political Economy ◽  
Monetary Union ◽  
Balance Of Power ◽  
Economic And Monetary Union ◽  
The Political ◽  
Economic Policies ◽  
Structural Unemployment ◽  
Political Union ◽  
Political Sources ◽  
Trade And Investment

EMU would be an economic liability. A single currency would cause, at most, small trade and investment gains but would raise average cyclical unemployment and possibly raise inflation, perpetuate structural unemployment, and increase the risk of protectionism. EMU is nevertheless being pursued in order to create a political union. Fundamental disagreements among member states about economic policies, foreign and military policies, and the sharing of political power are likely to create future intra-European conflicts. A United Europe would be a formidable participant in the twenty-first century's global balance of power, with uncertain consequences for world stability and peace.

scholarly journals 10. Critical Political Economy

2018 ◽  
pp. 195-215
Author(s):  
Bastiaan van Apeldoorn ◽  
Laura Horn
Keyword(s):  
Political Economy ◽  
European Integration ◽  
Monetary Union ◽  
Reference Point ◽  
Critical Analysis ◽  
Economic And Monetary Union ◽  
Integrated Analysis ◽  
The Political ◽  
Euro Crisis ◽  
Historical Materialist

This chapter examines European integration from the perspective of critical political economy. It first outlines a historical materialist framework for understanding European integration against a broader context of capitalist restructuring; focusing in particular on neo-Gramscian perspectives but also highlighting other strands of critical analysis. The chapter then proceeds with an integrated analysis of economic and monetary union (EMU) as a political project. With a focus on continuity and changes within the political economy of neo-liberalism, the euro crisis serves as a reference point to illustrate the strengths and contributions of critical political economy. Finally, contemporary perspectives on contestation and resistance in European integration are discussed.

Sense and Nonsense About the Single European Currency

1998 ◽  
Vol 33 (S1) ◽  
pp. 23-37
Author(s):  
Tim Congdon
Keyword(s):  
European Integration ◽  
European Commission ◽  
Monetary Union ◽  
Driving Force ◽  
Economic Benefits ◽  
Economic And Monetary Union ◽  
The Political ◽  
Single Currency ◽  
Financial Arrangements ◽  
Complete Transformation

The project to introduce a single currency is the most daring step so far in European integration. Indeed, it can be correctly described as revolutionary. It is much more far-reaching than previous moves in this direction over the last 15 years, such as the harmonisation of regulations or the ending of exchange controls; it is intended not as an incremental advance, but as a complete transformation of Europe's financial arrangements.The audacity of the single currency project is the more striking, in that it is a “revolution from above” rather than a “revolution from below”. The driving force has not been popular dissatisfaction with the existing currency arrangements, but the integrationist ambition of certain members of the European élite, particularly the German Chancellor, the French President and the President of the European Commission. (The integrationist ambition appears to attach to the positions ex officio and to be quite unaffected by the particular individuals who currently fill them.) These members of the élite emphasize the political nature of the single currency project, not the economic benefits. For example, Chancellor Kohl has said that European economic and monetary union (EMU) should prevent future wars in Europe.

scholarly journals The political economy under monetary union: has the euro made a difference?

2009 ◽  
Vol 24 (58) ◽  
pp. 307-348 ◽  
Author(s):  
Marcel Fratzscher ◽  
Livio Stracca
Keyword(s):  
Political Economy ◽  
Monetary Union ◽  
The Political
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