Reference : Introduction to ‘Economic and Monetary Union at Twenty: A Stocktaking of a Tumultuou...
Scientific journals : Article
Law, criminology & political science : Political science, public administration & international relations
http://hdl.handle.net/10993/42891
Introduction to ‘Economic and Monetary Union at Twenty: A Stocktaking of a Tumultuous Second decade’
English
Howarth, David[University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Identités, Politiques, Sociétés, Espaces (IPSE) >]
Economic and Monetary Union at Twenty: A Stocktaking of a Tumultuous Second decade
287-293
Yes (verified by ORBilu)
International
0703-6337
1477-2280
United Kingdom
[en] Economic and Monetary Union ; asymmetry ; European integration ; euro area ; Sovereign Debt Crisis ; Coronavirus (Covid-19) Crisis ; European integration theory
[en] This contribution discusses the two main asymmetries of European Economic and Monetary Union (EMU) as they developed over the past two decades since the launch of the Single Currency. From the outset, EMU involved asymmetric degrees of integration in the area of ‘economic’ union (less centralised governance) versus ‘monetary’ union (more supranational governance). With the outbreak of the Sovereign Debt Crisis in 2010, the regime-shaping relevance of a second asymmetry emerged: one roughly between the member states of the Euro Area ‘core’ and those in the ‘periphery’. Each of the two asymmetries have created a range of challenges—institutional, policy and political — that undermine the stability and sustainability of the EMU project.
Researchers ; Professionals ; Students ; General public
[University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Identités, Politiques, Sociétés, Espaces (IPSE) >]
