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Full Description
This book analyzes the EU's responses to the sovereign debt crisis that hit the Economic and Monetary Union (EMU) in 2010. After reviewing the events that led to the crisis, it examines two case studies. The first assesses the short-term policy changes by drawing on a new mechanism, contingent learning. The second case study revolves around the long-term EMU reforms passed during the period 2010-2013. More specifically, it assesses these responses in relation to the institutional scientific publications of the European Central Bank and the DG ECFIN of the Commission. By analyzing both the short and long-term responses to the sovereign debt crisis, the book elucidates how policy learning can be an effective engine for deeper European integration. It will be of interest to scholars and students of EU integration, the EMU, policy learning, and supranational bureaucracies.
Contents
Chapter 1. Introduction: EMU, fiscal policy coordination, crisis, and the case for learning.- Chapter 2. Research design.- Chapter 3. Introducing the beast: a primer on the euro crisis.- Chapter 4. How contingent learning saved EMU in 2010.- Chapter 5. The influence of internal epistemic actors on the construction of EMU expansionary consolidation paradigm.- Chapter 6. Conclusions. Integration through crisis and learning.
