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Full Description
With Economic and Monetary Union (EMU) the European Union is embarked on a major historic political project of formidable technical complexity. In January 2009 the Euro Area will be ten years old. What does the evidence from the first decade tell us about the significance of the euro for the EU and its member states? This book brings together a range of recognized academic specialists to examine the main political aspects of this question. How, and in what ways, has the euro Europeanized states (members and non-members), their institutions, policies and politics? What have been its effects on the location and use of power? Has the euro generated convergence or divergence? What political patterns can be identified? The book offers the first, in-depth and systematic political analysis of the first decade of the euro. It places the euro in its global and European contexts; offers a set of case studies of its effects on a representative sample of EU member states ('Anglo-Saxon', old 'D-Mark Zone', east central European and Baltic, Mediterranean, and Nordic); and looks at three key sectors (financial markets, wages and collective bargaining, and welfare reform). The book contributes to Europeanization studies, comparative political economy, and studies of Economic and Monetary Union (EMU). It will be of major interest to students of the European Union and European integration, comparative European politics, and area and 'country' studies.
Contents
1. The First Decade: Credibility, Identity and Institutional 'Fuzziness' ; PART I EUROPEAN AND GLOBAL CONTEXTS AND CHALLENGES ; 2. The Euro in a Global Context: Challenges and Capacities ; 3. The Changing European Context of Economic and Monetary Union: 'Deepening', 'Widening' and Stability ; 4. Fiscal Policy Co-ordination and Discipline: The Crisis of the Stability and Growth Pact and Domestic Fiscal Regimes ; 5. Institutional Competitiveness: The Lisbon Process, Soft Governance and Convergence ; PART II DOMESTIC POLITICAL AND POLICY CONTEXTS IN EURO AREA MEMBER STATES ; 6. France: The Political Management of Paradoxical Interests ; 7. Germany: A Crisis of Leadership in the Euro Area ; 8. Greece: A Suitable Accommodation? ; 9. Ireland: The Outlier Inside ; 10. Italy: Creeping Towards Convergence ; 11. The Netherlands: A Turning Point in Dutch-EU Relations? ; PART III DOMESTIC POLITICAL AND POLICY CONTEXTS IN EURO AREA 'OUTSIDERS' ; 12. Baltic States: When Stability Culture Is Not Enough ; 13. Britain: The Political Economy of Retrenchment ; 14. Hungary and Slovakia: Compliance and its Discontents ; 15. Poland: From Pacesetter to Semi-Permanent Outsider? ; 16. Sweden: Stability without Europe ; PART IV SECTORS, STATES AND EMU ; 17. Banking and Financial Market Regulation and Supervision ; 18. Wage Policies ; 19. Welfare Reform ; 20. European States and the Euro Area: Clustering and Covariance in Patterns of Change ; References ; Index
