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  1. Home
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  3. Euros and Europeans
  • Cited by 61
Publisher:
Cambridge University Press
Online publication date:
September 2009
Print publication year:
2004
Online ISBN:
9780511492020
DOI:
https://doi.org/10.1017/CBO9780511492020
Subjects:
Area Studies, European Studies, Politics and International Relations, European Government, Politics and Policy
Information

Book description

Economic and Monetary Union (EMU) is one of the most important developments in modern European politics. Building on two decades of monetary integration it transfers monetary policy, a core function of the modern state, to an independent European Central Bank (ECB) and limits member states' fiscal policy discretion. The ECB insists that growth and employment depend on 'flexibilizing' Europe's labor markets through deep reforms of the social policies and employment relations which comprise the 'European social model'. Member states retain authority over these areas at the heart of national politics, but how will EMU affect the domestic politics of institutional change? Will EMU reinforce de-regulation and retrenchment or will it facilitate reforms that maintain the protections against economic insecurity, inequality, and unilateral employer power the European model has provided? To address these questions, a transatlantic team of leading experts analyzes the evolving tensions between monetary integration and national social policies.

Reviews

'For those interested in the development of the EU it is essential reading.'

Source: The Sprout

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