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Author: Thomas Christiansen Publisher: Routledge ISBN: 113490701X Category : Political Science Languages : en Pages : 188
Book Description
The Maastricht Treaty, signed in 1992 and ratified in the following year, is widely seen as a landmark in the evolution of the European Union. It introduced into the treaty framework revolutionary new elements such as the co-decision procedure between the Council and the European Parliament, cooperation in the area of Justice and Home Affairs, the Common Foreign and Security Policy and the "euro" as a single currency for the majority of the then member states. It also introduced the concept of European citizenship into the treaty, reflecting the rising expectations of both citizens and decision-makers in the European project, and upgraded the role of the European Council at the summit of the EU’s institutional structure. Twenty years later, each of these innovations remain of central importance for the process of European integration, while current developments provide a valuable opportunity to reflect on the historical decisions taken in Maastricht in order to assess their significance and examine the subsequent evolution of the Union. This volume brings together an international group of leading scholars in the field in order to provide such an assessment, with each article both looking back over the developments within each of these domains as well as looking ahead to the way in which the EU is positioned to address current challenges. This book was published as a special issue of the Journal of European Integration.
Author: Mr.Robert Alan Feldman Publisher: International Monetary Fund ISBN: 1451850417 Category : Business & Economics Languages : en Pages : 64
Book Description
Economic and Monetary Union (EMU) has a number of institutional implications for the transition countries of Central and Eastern Europe and selected Mediterranean countries that aspire to join the European Union (EU). After describing the current institutional framework for their relations with the EU, the paper examines two basic categories of institutional effects: those stemming from the need to satisfy the Maastricht convergence criteria before joining the euro area, and those stemming from the need to adopt the EU’s institutional and legal provisions in the area of EMU.
Author: Thomas Christiansen Publisher: Routledge ISBN: 113490701X Category : Political Science Languages : en Pages : 188
Book Description
The Maastricht Treaty, signed in 1992 and ratified in the following year, is widely seen as a landmark in the evolution of the European Union. It introduced into the treaty framework revolutionary new elements such as the co-decision procedure between the Council and the European Parliament, cooperation in the area of Justice and Home Affairs, the Common Foreign and Security Policy and the "euro" as a single currency for the majority of the then member states. It also introduced the concept of European citizenship into the treaty, reflecting the rising expectations of both citizens and decision-makers in the European project, and upgraded the role of the European Council at the summit of the EU’s institutional structure. Twenty years later, each of these innovations remain of central importance for the process of European integration, while current developments provide a valuable opportunity to reflect on the historical decisions taken in Maastricht in order to assess their significance and examine the subsequent evolution of the Union. This volume brings together an international group of leading scholars in the field in order to provide such an assessment, with each article both looking back over the developments within each of these domains as well as looking ahead to the way in which the EU is positioned to address current challenges. This book was published as a special issue of the Journal of European Integration.
Author: Peter B. Kenen Publisher: Cambridge University Press ISBN: 9780521558839 Category : Business & Economics Languages : en Pages : 234
Book Description
1.The origins of EMU -- 2.The design of EMU -- 3.Monetary policy in Stage Three -- 4.Fiscal policy and EMU -- 5.EMU and the outside world -- 6.The transition to EMU -- 7.Reconsidering the transition -- 8.Getting on with EMU.
Author: Kenneth H. F. Dyson Publisher: Oxford University Press ISBN: 019829638X Category : Business & Economics Languages : en Pages : 884
Book Description
Economic and monetary union in the European Union represents a massive change for Europe and for the world. The Road to Maastricht identifies why the agreement was possible and how the agreement was made. The book examines the motives that inspired European political leaders, the strategies that they pursued, and the institutions that were used to achieve monetary union. Drawing on a wide range of sources and unprecedented research and interviews, the book combines careful political analysis with new information about the way in which European Monetary Union was negotiated. It delves into the complex forces at work in Europe, including the cross-national political interactions, to produce an authoritative account of the boldest and riskiest venture in the history of European integration.
Author: Patrick Leblond Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
When the Maastricht Treaty on European Union was finally ratified in 1993, many EU observers and participants expressed serious doubts that economic and monetary union (EMU) would ever take place. Nevertheless, five years later EMU took flight, on 1 January 1999, as planned. It is this puzzle that this article seeks to explain. It does so by focusing on how EU institutions completed the incomplete contract agreed by the Member States at Maastricht.
Author: Ad van Riet Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
The 30-year old Maastricht Treaty on European Union (EU) is based on the political vision that a stable euro requires sound budgetary policies and sustainable public finances in all the participating countries. This paper reviews the evolving European framework for governing the varieties of sovereign risk in the Economic and Monetary Union (EMU). The main finding is that a growing body of EU/EMU public policies with provisions contingent on the state of national economies, sustainable financial integration, or effective monetary transmission, works against fiscal discipline. EU fiscal rules allow for state-contingent compliance and include ample flexibility to account for mitigating relevant factors. EU financial governance provides public entities with a privileged access to private finance contingent on prudential considerations. The European Central Bank introduced contingent monetary policy tools for managing government bond spreads. Member States draw on EU/EMU quasi-fiscal agencies to create common contingent liabilities which escape EU fiscal oversight. The European response to the economic fallout from the Covid-19 pandemic added an EU-debt financed fiscal redistribution scheme contingent on national funding needs. Member States can also draw on this public risk-sharing tool to absorb the energy shock following the Russian invasion of Ukraine. The rise of state-contingent governance to suppress the varieties of sovereign risk in EMU marks the political transition from the Maastricht Treaty's focus on public risk reduction to a 'Next Generation EMU' which favours public risk-sharing. The challenge for the future will be to balance the need to stabilise the eurozone with the need for fiscal discipline.
Author: Thomas Christiansen
Author: Lorenzo Bini Smaghi
Author: Mr.Robert Alan Feldman
Author: Thomas Christiansen
Author: Peter B. Kenen
Author: Michael J. Artis
Author: Paul de Grauwe
Author: Thu-Mai Ho-Kim
Author: Kenneth H. F. Dyson
Author: Patrick Leblond
Author: Ad van Riet