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EMU as Europeanization: Convergence, Diversity and Contingency

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  • Kenneth Dyson

Abstract

This article examines the effects of Economic and Monetary Union (EMU) as a case study of Europeanization of EU Member States. Emphasis is placed on what these effects are, how they take place, and who is affected. The stress is on the diversity of these effects within a framework of powerful systemic pressures for convergence and on the different strategies and constructions placed on EMU by domestic elites. The extent of policy convergence is seen as contingent on the dynamic interactions between ‘top‐down’ and ‘bottom‐up’ aspects of EMU. How EMU affects states is pictured as a combination of ‘thick’ effects (captured by constructivism) and ‘thin’ effects (highlighted by rationalist approaches). The thick effects are confined to a small transnational policy community. But EMU has strengthened the domestic power of actors involved with this community. The article considers the implications for problems of conflict between elite and public discourse about Europe; for a differential Europe; and for the form of relationship amongst European states (semi‐sovereignty and competition for cognitive leadership). A key shift is from adapting to a German monetary hegemony under the ERM to a more open competition for cognitive leadership, offering to small states new scope for influence.

Suggested Citation

  • Kenneth Dyson, 2000. "EMU as Europeanization: Convergence, Diversity and Contingency," Journal of Common Market Studies, Wiley Blackwell, vol. 38(4), pages 645-666, November.
    • Handle: RePEc:bla:jcmkts:v:38:y:2000:i:4:p:645-666
    DOI: 10.1111/1468-5965.00258
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    Cited by:

    1. Theofanis Exadaktylos & Claudio M. Radaelli, 2009. "Research Design in European Studies: The Case of Europeanization," Journal of Common Market Studies, Wiley Blackwell, vol. 47(3), pages 507-530, June.
    2. Peter Nedergaard & Holly Snaith, 2015. "‘As I Drifted on a River I Could Not Control’: The Unintended Ordoliberal Consequences of the Eurozone Crisis," Journal of Common Market Studies, Wiley Blackwell, vol. 53(5), pages 1094-1109, September.
    3. Amy K. Filipek & Till Schreiber, 2010. "The Stability and Growth Pact: Past Performance and Future Reforms," Working Papers 97, Department of Economics, College of William and Mary.
    4. Richard Perkins & Eric Neumayer, 2007. "Implementing Multilateral Environmental Agreements: An Analysis of EU Directives," Global Environmental Politics, MIT Press, vol. 7(3), pages 13-41, August.
    5. Theofanis Exadaktylos & Claudio M. Radaelli, 2009. "Research Design in European Studies: The Case of Europeanization," Journal of Common Market Studies, Wiley Blackwell, vol. 47, pages 507-530, June.
    6. Olaf van Vliet & Ferry Koster, 2011. "Europeanization and the political economy of active labour market policies," European Union Politics, , vol. 12(2), pages 217-239, June.
    7. Carlos Closa & Aleksandra Maatsch, 2014. "In a Spirit of Solidarity? Justifying the European Financial Stability Facility (EFSF) in National Parliamentary Debates," Journal of Common Market Studies, Wiley Blackwell, vol. 52(4), pages 826-842, July.

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