Can the euro area survive without a more centralized economic policy? What lessons can be drawn from Economic and Monetary Union about new modes of policy-making in the European Union? Have euro area members spoken with one voice on the international stage and what does this mean for the European Union's ambitions to be a global actor in its own right? This book explores these three key questions through an in-depth analysis of euro area governance from the launch of the single currency in 1999 to the sovereign debt crisis of 2010. Drawing insights from the study of European Union politics, comparative political economy and international political economy, it examines: Economic and Monetary Union's break from the Community method of policy-making; the European Central Bank's ambivalence about the pursuit of ever closer union; the Eurogroup's rise and fall as a forum for economic policy coordination; the interplay between national fiscal institutions and the stability and growth pact; the broad economic policy guidelines' failure to apply peer pressure; the European Union's influence within the G20 and the International Monetary Fund at the height of the global financial crisis; euro diplomacy towards China and other rising powers; and current debates about the fate of EMU and the reform of euro area governance in the aftermath of the global financial crisis. The book's conclusions challenge claims that the euro area is in crisis because of its decentralized approach to decision-making alone and the corollary that the euro can be saved only through a further transfer of sovereignty to the supranational level.

Governing the Euro Area in Good Times and Bad

Business & Money

Hodson, Dermot

Economics

Oxford University Press

A compelling new history of the EU and the people who sought to shape and challenge it--from Maastricht to today &nbsp; The European Union is the most ambitious, and one of the most contentious, international organizations ever created. Decisions made in Brussels shape the lives of over 500 million Europeans, and its laws and policies resonate around the world. But how has the EU endured over three turbulent decades marred by crises at home and abroad? &nbsp; In this major account, Dermot Hodson traces the development of the EU from its establishment in 1993 through to Brexit, Covid-19, and the invasion of Ukraine. Hodson shows how the union has been held together not by faceless technocrats but national leaders who stood together in times of turmoil despite a fierce backlash from a new generation of right-wing populists. Circle of Stars offers a rich appraisal of Europe's troubled past and turbulent present--focusing on the people who built the EU as we know it today.

Circle of Stars: A History of the EU and the People Who Made It

History

Europe

Yale University Press

The Transformation of EU Treaty Making (Cambridge Studies in European Law and Policy)

Treaty making is a site of struggle between those who claim the authority to speak and act on the international stage. The European Union (EU) is an important test case in this respect because the manner in which the Union and its member states make treaties has shifted significantly over the last six decades. Drawing insights from EU law, comparative constitutionalism and international relations, this book shows how and why parliaments, the people and courts have entered a domain once dominated by governments. It presents qualitative and quantitative evidence on the importance of public trust and political tactics in explaining this transformation of EU treaty making and challenges the idea that EU treaties are too rigid. Analysing legal developments in the EU and each of its member states, this will be essential reading for those who wish to understand the EU's controversial experiment in treaty making and its wider significance.

The Transformation of EU Treaty Making: The Rise of Parliaments, Referendums and Courts since 1950 (Cambridge Studies in European Law and Policy)

Maher, Imelda

Foreign & International Law

Cambridge University Press

Treaty making is a site of struggle between those who claim the authority to speak and act on the international stage. The European Union (EU) is an important test case in this respect because the manner in which the Union and its member states make treaties has shifted significantly over the last six decades. Drawing insights from EU law, comparative constitutionalism and international relations, this book shows how and why parliaments, the people and courts have entered a domain once dominated by governments. It presents qualitative and quantitative evidence on the importance of public trust and political tactics in explaining this transformation of EU treaty making and challenges the idea that EU treaties are too rigid. Analysing legal developments in the EU and each of its member states, this will be essential reading for those who wish to understand the EU's controversial experiment in treaty making and its wider significance.

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Books by Hodson, Dermot