scholarly journals Poland’s policy towards membership in the Economic and Monetary Union

2020 ◽  
pp. 179-192
Author(s):  
Katarzyna Kołodziejczyk
Keyword(s):  
Monetary Union ◽  
Comparative Method ◽  
Economic Benefits ◽  
Economic And Monetary Union ◽  
The European Union ◽  
Convergence Criteria ◽  
Ruling Elite ◽  
Main Research ◽  
Law And Justice ◽  
Strategic Goal

Poland’s accession to the European Union determines future membership in the Economic and Monetary Union (EMU). The subject of the research is the analysis of Polish policy towards EMU membership during the first 15 years of Poland’s membership in the EU. The research is political nature and intentionally does not focus on the economic benefits and challenges associated with Poland’s membership in the EMU. The aim of research is to focus on changes taking place in the policy towards Poland’s membership in the EMU conducted by the ruling parties, successively by the coalition of the Civic Platform (PO) and the Polish People’s Party (PSL) – PO-PSL in years 2007–2015 and then by the Law and Justice (PiS) in years 2005–2007 in consultation with the Self-Defence (Samoobrona RP) and the League of Polish Families (LPR) as well as 2015–2019 in the coalition with the Jarosław Gowin’s Agreement (Porozumienie Jarosława Gowina) and Zbigniew Ziobro’s Solidary Poland (Solidarna Polska). The main research questions relate to how has Poland’s membership in the EMU been perceived by the ruling parties since 2004 and what are the reasons for the fact that joining the eurozone by Poland until recently had been the strategic goal of the ruling elite of the country, and nowadays the strategic goal has become non-entry into the EMU. The main research methods were the analysis of the content of documents and a comparative method. The first method allowed presenting the perspective of Poland’s entry into the euro area from the side of the ruling parties policy. That is why the text was mainly based on source materials, i.e. reports, government documents, political speeches, party election programs and press articles. The second research method allowed to compare the concept of Poland’s membership in the EMU presented in various programs of the ruling political parties. The result of the conducted research indicates the radicalisation of the views of the Polish political scene. It also proves that date of adoption of the single European currency depends not only on meeting the convergence criteria, but also on which political option will rule in Poland.

Legislative changes within the Economic and Monetary Union after the 2007

2020 ◽  
pp. 55-78
Author(s):  
Katarzyna Kołodziejczyk
Keyword(s):  
European Union ◽  
Monetary Union ◽  
Euro Area ◽  
Detailed Examination ◽  
Financial Assistance ◽  
Economic And Monetary Union ◽  
The European Union ◽  
Main Research ◽  
Research Questions ◽  
Legislative Changes

The global economic crisis of 2007 revealed a number of weaknesses in the Economic and Monetary Union (EMU). The Member States, together with the European Union institutions have made an effort to save the euro area by introducing a number of reforms for the functioning of the EMU. This article focuses on the analysis of legislative changes introduced to the euro area after 2007 in the fields of fiscal, economic, banking, and financial assistance. The documents constituting the EMU legislative changes package were a subject of a detailed examination. The main research questions were focused on the essence of weaknesses in the functioning of the EMU and the future of the euro area.

The euro - our future in Europe

1998 ◽  
Vol 4 (1) ◽  
pp. 48-57
Author(s):  
Christa Randzio-Plath
Keyword(s):  
Monetary Union ◽  
Economic Conditions ◽  
Economic And Monetary Union ◽  
Democratic Accountability ◽  
The European Union ◽  
European Monetary ◽  
European Central ◽  
Economic Framework ◽  
Monetary Authorities ◽  
European Monetary Policy

Economic and Monetary Union has been created to complete the single market, to provide optimal macro-economic conditions for employment-enhancing growth and to promote further political integration in the European Union. Unfortunately in the discussion about monetary union the reasons why Europe needs EMU have been almost forgotten. As the future European Central Bank will be solely responsible for European monetary policy and thus be influencing strongly the overall macro-economic framework in Europe, the question of democratic accountability of monetary authorities needs to be debated. EMU is Europe's answer to the challenges of the 21 st century.

scholarly journals The Fiscal Compact and the European Constitutions: ‘Europe Speaking German’

2012 ◽  
Vol 8 (1) ◽  
pp. 1-7 ◽  
Author(s):  
LB ◽  
JHR
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Monetary Union ◽  
Euro Area ◽  
Economic And Monetary Union ◽  
Economic Policies ◽  
The European Union ◽  
The Czech Republic ◽  
The United Kingdom ◽  
Fiscal Compact

In between the writing of this editorial and the publication of this issue of EuConst, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, in everyday parlance the ‘Fiscal Compact’, will have been signed by the representatives of the governments of the contracting parties — the member states of the European Union minus the United Kingdom and the Czech Republic. The Fiscal Compact is intended to foster budgetary discipline, to strengthen the coordination of economic policies and to improve the governance of the euro area.

EU Institutions Representing Member States’ Governments

2020 ◽  
Author(s):  
Eugenia Dumitriu Segnana ◽  
Alberto de Gregorio Merino
Keyword(s):  
European Union ◽  
Monetary Union ◽  
Euro Area ◽  
Central Place ◽  
Common Interest ◽  
Economic And Monetary Union ◽  
The European Union ◽  
Member States ◽  
National Policies ◽  
Greek Crisis

The Council of the European Union (EU) occupies a central place in the Economic and Monetary Union (EMU), even more so than in any other Union policies. It exercises in this area a variety of roles going from a forum for coordination of national policies to legislative functions and executive powers. The different crises that affected the Union and in particular the euro area in the last ten years have strengthened its prominent position, in no small part due to the Council’s ownership by the Member States. Alongside the Council, the Euro Group, which is presided by a fixed-term president, has developed itself as the informal forum where Ministers from the Member States whose currency is the euro discuss matters of common interest. Its role has been decisive, in particular in the Cypriot and Greek crisis, which could have put into question the very existence of the euro area as a whole.

Sense and Nonsense About the Single European Currency

1998 ◽  
Vol 33 (S1) ◽  
pp. 23-37
Author(s):  
Tim Congdon
Keyword(s):  
European Integration ◽  
European Commission ◽  
Monetary Union ◽  
Driving Force ◽  
Economic Benefits ◽  
Economic And Monetary Union ◽  
The Political ◽  
Single Currency ◽  
Financial Arrangements ◽  
Complete Transformation

The project to introduce a single currency is the most daring step so far in European integration. Indeed, it can be correctly described as revolutionary. It is much more far-reaching than previous moves in this direction over the last 15 years, such as the harmonisation of regulations or the ending of exchange controls; it is intended not as an incremental advance, but as a complete transformation of Europe's financial arrangements.The audacity of the single currency project is the more striking, in that it is a “revolution from above” rather than a “revolution from below”. The driving force has not been popular dissatisfaction with the existing currency arrangements, but the integrationist ambition of certain members of the European élite, particularly the German Chancellor, the French President and the President of the European Commission. (The integrationist ambition appears to attach to the positions ex officio and to be quite unaffected by the particular individuals who currently fill them.) These members of the élite emphasize the political nature of the single currency project, not the economic benefits. For example, Chancellor Kohl has said that European economic and monetary union (EMU) should prevent future wars in Europe.

scholarly journals Risks of a slow-motion EMU reform

2019 ◽  
Vol 16 (2) ◽  
pp. 226-237
Author(s):  
László Andor
Keyword(s):  
European Union ◽  
Monetary Union ◽  
Euro Area ◽  
Slow Motion ◽  
Critical Assessment ◽  
Economic And Monetary Union ◽  
Reform Process ◽  
The European Union ◽  
Eurozone Crisis ◽  
Pros And Cons

The article provides a critical assessment of how the Economic and Monetary Union was designed, implemented and reformed in the European Union and discusses the risks of a slow-motion reform process. It is argued that the fact that the euro area economy has recovered in the last few years has become a source of complacency and delays. In particular, powerful forces continue to downplay the importance of systemic reconstruction and the risk of disintegration remains high despite the relative tranquillity of markets in the 2014–2018 period. Finally, the article evaluates competing paradigms about the eurozone crisis and the pros and cons of fiscal capacity building.

scholarly journals Encrucijadas de la moneda única. Algunas claves para una reflexión desde la periferia

2015 ◽  
Vol 8 (22) ◽  
Author(s):  
Fernando Luengo Escalonilla Lucía Vicent Valverde
Keyword(s):  
European Union ◽  
Economic Crisis ◽  
Monetary Union ◽  
Community Leaders ◽  
Economic And Monetary Union ◽  
The European Union ◽  
Spanish Economy ◽  
European Monetary

<p> </p><p>The article reflects about the viability and implications of the Economic and Monetary Union from a Southern periphery of the European Union perspective, especially that of the Spanish economy. The argument is developed through two ideas: a) euro zone’s reconfiguration carried out by community leaders has preserved and also has sharpened imbalances and asymmetries that triggered the economic crisis, b) the debate on how to overcome it contains and transcends the dilemma that arises from being  part of the European Monetary area, or not.</p><p> </p>

scholarly journals THE LESSONS FROM THE EURO EXPERIENCE

2012 ◽  
Vol 1 (2) ◽  
pp. 15-34
Author(s):  
Richard Griffiths
Keyword(s):  
European Union ◽  
Monetary Union ◽  
Regional Cooperation ◽  
Free Trade Area ◽  
Economic And Monetary Union ◽  
Customs Union ◽  
The European Union ◽  
Current Crisis ◽  
The Uk ◽  
The Impact

Twenty years ago, amid a great fanfare of enthusiasm, the Treaty of Maastricht created the European union and inaugurated the process for creating a single European currency for most of the then members (except the UK and Sweden, and later Denmark, that were given a temporary exemption) and all future members. Twenty years later, the anniversary of the treaty passed almost unnoticed (European Policy Centre, 2012). On that day, however, the impact of the treaty was never far from the headlines, as had also been the case for almost every day over the previous months. The Lehman brothers bankruptcy in September 2008 not only triggered a financial crisis that threatened to engulf the world, but it set in motion a series of shocks that have since reverberated through the Euro-area. It is fair to say that the crisis-management has not been an example of stream-lined efficiency, and there are lessons to be learned from that experience.However, the development of the Euro, and the crisis that has subsequently engulfed it, holds lessons in another direction. The European Union has long been held as a model, or an inspiration, for other experiments in regional cooperation and integration, including Mercosul, ASEAN and SADC. The model embodied an sequence of steps leading to ‘ever closer union’ that moved from a free trade area through a customs union and a single market and culminated in economic and monetary union. With the signing and implementation of the Treaty of Maastricht, the European Union had embarked on the penultimate step in this progression. But only half of it – a monetary union without a fiscal union. The Euro-crisis has now called that achievement into question and, in the process, undermined the authority of those espousing a European route towards closer integration, both for themselves as well as for other nations. As a convinced federalist, myself, I would not recommend abandoning the European example altogether, but if there is a lesson to be learned from this sorry episode, it is this: “if you are going to do it, do not do it this way”.This article examines the European experience with economic and monetary union from three perspectives – the design, the implementation and the management of the euro – before exploring the implications of the current crisis.

Sign in / Sign up

Export Citation Format

Share Document