Maastricht and the Future of Europe, Speech by Dr. Willem F. Duisenberg, President of the European Central Bank, at the German Ministry of Finance, 22 October 2003

2021 ◽  
pp. 112-114
Author(s):  
Bram Boxhoorn ◽  
Giles Scott-Smith
Author(s):  
Massimo Rostagno ◽  
Carlo Altavilla ◽  
Giacomo Carboni ◽  
Wolfgang Lemke ◽  
Roberto Motto ◽  
...  

Institutions dedicated to serving the public good must look to the past to learn from experience; and look to the future to prepare, as best they can, for the trials that might lie ahead. The 20th anniversary of Economic and Monetary Union (EMU) offers an opportunity to apply such a perspective to the monetary policy of the European Central Bank (ECB): to evaluate its accomplishments and to learn the lessons that can improve the conduct of its policy in the future....


Author(s):  
Marcel Fratzscher

The euro is at a crossroads. Not only has it been blamed for having contributed to the European crisis and for preventing a solution, but there is a growing conflict between many in Germany and the European Central Bank (ECB), the guardian of the euro and the common monetary policy. This division and isolated views in Germany are worrisome. Why do politicians, the media, and in particular, economists differ so fundamentally in their views on the euro and monetary policy? How is it possible that in this age, in which information is abundantly available and shared globally, nationality and the environment in which people operate play such a big role? What does it mean for the future of Europe?


2005 ◽  
Vol 35 (139) ◽  
pp. 287-300 ◽  
Author(s):  
Étienne Balibar

The problem of a European Constitution is discussed at a fundamental level. In which way, can we speak about such a Constitution? Thearticle argues against the “postnational souveranism”, legitimating state against citizens. A new kind of citizenship is favoured based on extended social rights. The constitution now proposed contrarily makes the European Central Bank and its neoliberal policy to central and nearly unchangeable institution.


Author(s):  
C. Randall Henning

The regime complex for crisis finance in the euro area included the European Council, Council of the European Union, and Eurogroup in addition to the three institutions of the troika. As the member states acted largely, though not exclusively, through the council system, these bodies stood at the center of the institutional mix. This chapter reviews the institutions as a prelude to examining the dilemmas that confronted them over the course of the crises. It presents a brief review of some of the basic facts about their origins, membership, and organization. Each section then delves more deeply into these institutions’ governance and principles to understand their capabilities and strategic challenges. As a consequence of different mandates and design, the European Commission, European Central Bank, and International Monetary Fund diverged with respect to their approach to financing, adjustment, conditionality, and debt sustainability. This divergence set the stage for institutional conflict in the country programs.


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