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Monetary Integration in Europe: Ideas and Evolution

Amy Verdun

in The State of the European Union: Risks, Reform, Resistance, and Revival

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198297574
eISBN:
9780191598982
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198297572.003.0005
Subject:
Political Science, European Union

The Economic and Monetary Union (EMU) resulted from the convergence of ideas about the aim of monetary policy and the design of EMU. It will lead to a further revival of the EU if there remains a ... More


European Monetary Union and the New Political Economy of Adjustment

Erik Jones

in The State of the European Union: Risks, Reform, Resistance, and Revival

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198297574
eISBN:
9780191598982
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198297572.003.0007
Subject:
Political Science, European Union

This chapter examines how the creation of the Economic and Monetary Union (EMU) spawned a new political economy of adjustment in Europe. It is argued that the EMU is changing how Europeans adjust to ... More


Monetary Policy and the Euro

Loukas Tsoukalis

in Governing Europe

Published in print:
2003
Published Online:
November 2003
ISBN:
9780199250158
eISBN:
9780191599439
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199250154.003.0019
Subject:
Political Science, European Union

This chapter first briefly traces the history of European monetary integration. It then examines: the politics and economics of the Maastricht Treaty and Economic and Monetary Union/European Monetary ... More


Financial Restructuring in the Age of the Euro: Still a Battle of Systems?

Jonathan Story

in The State of the European Union Vol. 7: With US or Against US? European Trends in American Perspective

Published in print:
2005
Published Online:
February 2006
ISBN:
9780199283958
eISBN:
9780191603297
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199283958.003.0010
Subject:
Political Science, European Union

The battle of the systems within the EU is as lively as it ever was, if not livelier. Europe is not converging on a single capitalism, but the many national forms it takes are all subject to similar ... More


The Euro and Union: Thatcher, Major, and Fin de Régime

Stephen Wall

in A Stranger in Europe: Britain and the EU from Thatcher to Blair

Published in print:
2008
Published Online:
October 2011
ISBN:
9780199284559
eISBN:
9780191700309
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199284559.003.0005
Subject:
Political Science, European Union, UK Politics

Nigel Lawson, the British Chancellor, viewed Margaret Thatcher's agreement, at the Hanover European Council in June 1988, to a committee to examine the Economic and Monetary Union (EMU) as a ... More


At the Heart of Europe: The Road to the Maastricht Treaty

Stephen Wall

in A Stranger in Europe: Britain and the EU from Thatcher to Blair

Published in print:
2008
Published Online:
October 2011
ISBN:
9780199284559
eISBN:
9780191700309
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199284559.003.0006
Subject:
Political Science, European Union, UK Politics

Although John Major was born during World War II, he was a child of post-war Britain. Unlike Margaret Thatcher, who was already a teenager when war was declared, Major had no visceral fear of what a ... More


The Single European Act and Economic and Monetary Union

Stephen Wall

in A Stranger in Europe: Britain and the EU from Thatcher to Blair

Published in print:
2008
Published Online:
October 2011
ISBN:
9780199284559
eISBN:
9780191700309
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199284559.003.0004
Subject:
Political Science, European Union, UK Politics

Two months before what Margaret Thatcher saw as the Milan ambush, the British Foreign Office had sent her a paper about the implications of Spanish and Portuguese accession to the European Community. ... More


Monetary Cooperation and Integration

Ulrich Krotz and Joachim Schild

in Shaping Europe: France, Germany, and Embedded Bilateralism from the Elysée Treaty to Twenty-First Century Politics

Published in print:
2012
Published Online:
May 2013
ISBN:
9780199660087
eISBN:
9780191751646
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199660087.003.0009
Subject:
Political Science, European Union, International Relations and Politics

From the onset of European monetary cooperation until the current eurozone crisis, France and Germany have been at the heart of European decision-making on monetary affairs. Monetary integration ... More


Economic Rapprochement, Monetary Standstill, July 1976–June 1977

Emmanuel Mourlon-Druol

in A Europe Made of Money: The Emergence of the European Monetary System

Published in print:
2012
Published Online:
August 2016
ISBN:
9780801450839
eISBN:
9780801465932
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9780801450839.003.0005
Subject:
Political Science, European Union

This chapter examines the paradoxical double turnaround in mid-1976: the improvement of economic convergence among European Economic Community (EEC) member states but the relative standstill in ... More


The EMU Paradox: Centralization and Decentralization in EU Macroeconomic Policy

Dermot Hodson

in Constructing a Policy-Making State?: Policy Dynamics in the EU

Published in print:
2012
Published Online:
January 2013
ISBN:
9780199604104
eISBN:
9780191741531
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199604104.003.0009
Subject:
Political Science, European Union

Economic and Monetary Union (EMU) embodies an approach to policy-making that is both highly centralized and highly decentralized. In the monetary sphere, member states share a single monetary policy, ... More


Preparing for the Treaty negotiations

Simon J. Nuttall

in European Foreign Policy

Published in print:
2000
Published Online:
October 2011
ISBN:
9780198293361
eISBN:
9780191684982
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198293361.003.0005
Subject:
Political Science, European Union

This chapter discusses the preparation for the negotiations on Economic and Monetary Union (EMU) in Europe. The preparations included the authorization of preparatory work in 1988, the production of ... More


EMU off the Agenda? June 1975–June 1976

Emmanuel Mourlon-Druol

in A Europe Made of Money: The Emergence of the European Monetary System

Published in print:
2012
Published Online:
August 2016
ISBN:
9780801450839
eISBN:
9780801465932
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9780801450839.003.0004
Subject:
Political Science, European Union

This chapter examines why and how economic divergences resulted only in the partial disappearance of monetary cooperation from the European Community's agenda between June 1975 and June 1976. It ... More


Conflicting Options, July 1977–March 1978

Emmanuel Mourlon-Druol

in A Europe Made of Money: The Emergence of the European Monetary System

Published in print:
2012
Published Online:
August 2016
ISBN:
9780801450839
eISBN:
9780801465932
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9780801450839.003.0006
Subject:
Political Science, European Union

This chapter examines how the debate over the Economic and Monetary Union (EMU) resurfaced at the very top of the European Economic Community's (EEC) political agenda, from the decision of the ... More


The Intergovernmental Conference

Simon J. Nuttall

in European Foreign Policy

Published in print:
2000
Published Online:
October 2011
ISBN:
9780198293361
eISBN:
9780191684982
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198293361.003.0006
Subject:
Political Science, European Union

This chapter discusses the highlights of the Intergovernmental Conference (IGC) debate on the EMU, which lasted for the whole of 1991. The IGC focused on refining the draft Common Foreign and ... More


European Monetary Cooperation, 1945–1974: Background and Debates

Emmanuel Mourlon-Druol

in A Europe Made of Money: The Emergence of the European Monetary System

Published in print:
2012
Published Online:
August 2016
ISBN:
9780801450839
eISBN:
9780801465932
Item type:
chapter
Publisher:
Cornell University Press
DOI:
10.7591/cornell/9780801450839.003.0002
Subject:
Political Science, European Union

This chapter explores several key ideas necessary to understand how monetary coordination works. It first considers the so-called triangle of compatibilities, or trilemma. According to Robert ... More


The failed reform of the eurozone

Frédéric Mérand

in The Political Commissioner: A European Ethnography

Published in print:
2021
Published Online:
July 2021
ISBN:
9780192893970
eISBN:
9780191915154
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780192893970.003.0008
Subject:
Political Science, European Union, International Relations and Politics

This chapter is the story of a political failure. When Moscovici arrived in Brussels, he promised to reform eurozone governance, with a eurozone budget and a European finance minister. The ... More


Parliamentary Reactions to Reforms of Economic and Monetary Union

Thomas Winzen and Berthold Rittberger

in Constitutional Preferences and Parliamentary Reform: Explaining National Parliaments' Adaptation to European Integration

Published in print:
2017
Published Online:
February 2017
ISBN:
9780198793397
eISBN:
9780191835223
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198793397.003.0007
Subject:
Political Science, Comparative Politics, European Union

This chapter extends an explanation based on constitutional preferences to reform opportunities arising from the crisis-driven reforms of the EU’sEconomic and Monetary Union (EMU). Parliamentary ... More


Integrating through Crises: Revisiting the Eurozone’s Reform Conundrum

George Pagoulatos

in Europe's Transformations: Essays in Honour of Loukas Tsoukalis

Published in print:
2021
Published Online:
November 2021
ISBN:
9780192895820
eISBN:
9780191916359
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780192895820.003.0010
Subject:
Political Science, European Union

EMU was a brainchild of contrasting parental personalities. Integrationist European ambition joined disparate national pursuits to create an imperfect EMU architecture, though one amenable to ... More


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