Leseprobe
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Europe's New Fiscal Union
Pierre Schlosser
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Springer International Publishing 
Sozialwissenschaften, Recht, Wirtschaft / Politisches System
Beschreibung
The euro crisis made Europe’s stateless currency falter. This book retraces and interprets the ways in which the crisis impacted the unique institutional set-up of Europe’s Economic and Monetary Union (EMU). It argues that the crisis propelled the European continent towards the institutionalization of an unprecedented form of centralized authority: Europe’s New Fiscal Union. Diving into the central functions of fiscal surveillance, financial assistance, lending of last resort and banking resolution, the book reveals how a covert and convoluted mutualisation process occurred in the shadow of the euro crisis management. Based on 62 interviews conducted by the author with senior policy-makers in Brussels, Frankfurt, Helsinki and Rome, the book claims that Europe’s New Fiscal Union is largely unsettled and still unstable. It therefore engages with the challenges arising from the patchwork of newly adopted rules, instruments and bodies, suggesting crucial reform steps to make EMU sustainable.
Kundenbewertungen
Europe's Economic and Monetary Union, fiscal authority, intergovernmental confederation, democratic federalism, euro crisis management, fiscal centralization, asymmetrical institutional design, centralized monetary policy, European Financial Stability Facility, European Central Bank, technocratic agencies, decentralized fiscal policies, European Commission, Eurogroup, EMU reform, path-dependence, Single Resolution Mechanism, euro crisis, regulatory fiscal surveillance, national fiscal policies