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Germany in the European Union: Economic Policy under Ceded Sovereignty

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Author Info
Horst Siebert
Abstract

The member states of the European Union have given up sovereignty in quite a number of policy areas and subjected themselves to joint decisionmaking at the European level. Policy instruments are no longer available nationally in many policy areas, including monetary policy, trade policy, the more important part of competition policy, subsidy control, and a large number of the regulations in the product market, the environmental arena, and the capital market. The maneuvering space for national economic policy-makers has been reduced considerably. In quite a few areas in which decisions are taken with a qualified majority, the member countries can be outvoted and have to accept the decisions taken by others. This paper surveys the new decision space of economic policy of a member state including the latest constitutional arrangement.

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File URL: http://www.ifw-members.ifw-kiel.de/publications/germany-in-the-european-union-economic-policy-under-ceded-sovereignty/kap1217.pdf
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Publisher Info
Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1217.

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Length: 55 pages
Date of creation: Jul 2004
Date of revision:
Handle: RePEc:kie:kieliw:1217

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Related research
Keywords: European integration; sovereignty; EU constitution;

Find related papers by JEL classification:
E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
F15 - International Economics - - Trade - - - Economic Integration
H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism

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  1. Bob HanckÈ & David Soskice, 2003. "Wage-Setting and Inflation Targets in EMU," Oxford Review of Economic Policy, Oxford University Press, vol. 19(1), pages 149-160.
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This page was last updated on 2009-11-6.

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