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  Monetary Disunion: The Domestic Politics of Euroland

Streeck, W., & Elsässer, L. (2016). Monetary Disunion: The Domestic Politics of Euroland. Journal of European Public Policy, 23(1), 1-24. doi:10.1080/13501763.2015.1080287.

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mpifg_zs15_1609.pdf (Any fulltext), 546KB
 
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Streeck, Wolfgang1, Author           
Elsässer, Lea2, 3, Author           
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1Institutioneller Wandel im gegenwärtigen Kapitalismus, MPI for the Study of Societies, Max Planck Society, ou_1214549              
2Projekte von Gastwissenschaftlern und Postdoc-Stipendiaten, MPI for the Study of Societies, Max Planck Society, ou_1214554              
3Universität Osnabrück, Germany, ou_persistent22              

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Free keywords: European integration, European Monetary Union, Germany, Italy, regional disparities, regional policy
 Abstract: Regional disparities within the European Union have always been perceived as an impediment to monetary integration. Discussions on a joint currency were linked to compensatory payments in the form of regional policy. Structural assistance increased sharply at the end of the 1980s. Later, however, it had to be shared with the new member states in the East. Moreover, the low-interest credit that Southern European Monetary Union members enjoyed as a result of interest rate convergence is no longer available. We predict that considerable amounts of financial aid will have to be provided in the future by rich to poor member countries, if only to prevent a further increase in economic disparities. We also expect ongoing distributional conflict between payer and recipient countries far beyond current rescue packages. We illustrate the dimension of the conflict by comparing income gaps and relative population size between the centre and periphery in Europe and in two nation-states with high regional disparities, Germany and Italy.

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Language(s): eng - English
 Dates: 2015-09-162016
 Publication Status: Issued
 Pages: -
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 Rev. Type: Peer
 Identifiers: DOI: 10.1080/13501763.2015.1080287
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Title: Journal of European Public Policy
Source Genre: Journal
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Pages: - Volume / Issue: 23 (1) Sequence Number: - Start / End Page: 1 - 24 Identifier: ISSN: 1350-1763
ISSN: 1466-4429