IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-0-230-52380-7_5.html
   My bibliography  Save this book chapter

The ECB and the Decline of European Democracy

In: The Price of the Euro

Author

Listed:
  • James Forder

Abstract

The costs and benefits of shared currencies were argued over in one way or another for many years before the creation of the European Monetary Union. Perhaps the most notable aspect of the debate was that theorizing never brought about a consensus on much more than what the questions are. No one ever seriously doubted that there are some very small gains to be had from saving currency exchange costs and related matters. On the other hand, the obvious danger was that the necessity of having the same monetary policy throughout the area would result in bad economic policy and bad economic outcomes — unemployment chief amongst them. The principal issue in the debate, then, was whether the accumulation of small gains would outweigh the possible large losses. The European Commission did its best to make the case that the dangers were small, essentially by arguing that economic policy does not have much effect on economic outcomes anyway.1 And in the event most of the European Union adopted the euro without much further consideration.

Suggested Citation

  • James Forder, 2004. "The ECB and the Decline of European Democracy," Palgrave Macmillan Books, in: Jonas Ljungberg (ed.), The Price of the Euro, chapter 5, pages 71-85, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52380-7_5
    DOI: 10.1057/9780230523807_5
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. J. James Reade & Ulrich Volz, 2009. "Too Much to Lose, or More to Gain? Should Sweden Join the Euro?," Economics Series Working Papers 442, University of Oxford, Department of Economics.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-0-230-52380-7_5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.