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Completing the Maastricht Contract: Institutional Handicraft and the Transition to European Monetary Union

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  • Patrick Leblond

Abstract

When the Maastricht Treaty on European Union was finally ratified in 1993, many EU observers and participants expressed serious doubts that economic and monetary union (EMU) would ever take place. Nevertheless, five years later EMU took flight, on 1 January 1999, as planned. It is this puzzle that this article seeks to explain. It does so by focusing on how EU institutions completed the incomplete contract agreed by the Member States at Maastricht.

Suggested Citation

  • Patrick Leblond, 2004. "Completing the Maastricht Contract: Institutional Handicraft and the Transition to European Monetary Union," Journal of Common Market Studies, Wiley Blackwell, vol. 42(3), pages 553-572, September.
  • Handle: RePEc:bla:jcmkts:v:42:y:2004:i:3:p:553-572
    DOI: 10.1111/j.0021-9886.2004.00518.x
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    File URL: https://doi.org/10.1111/j.0021-9886.2004.00518.x
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    1. Mattli,Walter, 1999. "The Logic of Regional Integration," Cambridge Books, Cambridge University Press, number 9780521632270.
    2. Mattli,Walter, 1999. "The Logic of Regional Integration," Cambridge Books, Cambridge University Press, number 9780521635363.
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    Cited by:

    1. Paweł Gajewski, 2011. "Doświadczenia z reform fiskalnych w okresie tworzenia Unii Gospodarczej i Walutowej," Gospodarka Narodowa, Warsaw School of Economics, issue 1-2, pages 43-62.

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