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Small States and the Creation of EMU: Belgium and the Netherlands, Pace‐setters and Gate‐keepers

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  • IVO MAES
  • AMY VERDUN

Abstract

It is often argued that economic and monetary union (EMU) was created due to the efforts and interests of larger Member States. This article argues that the Belgian and Dutch contributions indicate that small countries played a significant role in the creation of EMU. Both countries wanted to create a zone of monetary stability in Europe and as such have led the process by example. However, their conceptions of monetary stability were different. Belgium, as a close ally of the Commission, played a pace‐setting role, especially through creative and diplomatic proposals, whilst the Netherlands played the role of gate‐keeper and important ally of the Germans. Following a framework developed by Helen Wallace, the article analyses how, and under what conditions, Belgium and the Netherlands played a role in the creation of EMU.

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  • Ivo Maes & Amy Verdun, 2005. "Small States and the Creation of EMU: Belgium and the Netherlands, Pace‐setters and Gate‐keepers," Journal of Common Market Studies, Wiley Blackwell, vol. 43(2), pages 327-348, June.
    • Handle: RePEc:bla:jcmkts:v:43:y:2005:i:2:p:327-348
    DOI: 10.1111/j.0021-9886.2005.00558.x
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    1. Dyson, Kenneth & Featherstone, Kevin, 1999. "The Road To Maastricht: Negotiating Economic and Monetary Union," OUP Catalogue, Oxford University Press, number 9780198296386.
    2. Ivo Maes, 2002. "Economic Thought and the Making of European Monetary Union," Books, Edward Elgar Publishing, number 2515.
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    Cited by:

    1. Daniel F. Schulz & Thomas Henökl, 2020. "New Alliances in Post-Brexit Europe: Does the New Hanseatic League Revive Nordic Political Cooperation?," Politics and Governance, Cogitatio Press, vol. 8(4), pages 409-419.
    2. Waltraud Schelkle, 2018. "The political economy of monetary solidarity: revisiting the euro experiment," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 44(3), pages 371-403.
    3. Peter Viggo Jakobsen, 2009. "Small States, Big Influence: The Overlooked Nordic Influence on the Civilian ESDP," Journal of Common Market Studies, Wiley Blackwell, vol. 47(1), pages 81-102, January.
    4. Georgios Maris & Floros Flouros, 2021. "The Green Deal, National Energy and Climate Plans in Europe: Member States’ Compliance and Strategies," Administrative Sciences, MDPI, vol. 11(3), pages 1-17, July.
    5. Peter Viggo Jakobsen, 2009. "Small States, Big Influence: The Overlooked Nordic Influence on the Civilian ESDP," Journal of Common Market Studies, Wiley Blackwell, vol. 47, pages 81-102, January.
    6. Daniel F. Schulz & Thomas Henökl, 2020. "New Alliances in Post-Brexit Europe: Does the New Hanseatic League Revive Nordic Political Cooperation?," Politics and Governance, Cogitatio Press, vol. 8(4), pages 78-88.
    7. Valeria De Bonis & Pompeo Della Posta, 2005. "Strategic interactions between monetary and fiscal authorities in a monetary union," Working Papers de Economia (Economics Working Papers) 26, Departamento de Economia, Gestão e Engenharia Industrial, Universidade de Aveiro.
    8. Schelkle, Waltraud, 2018. "The political economy of monetary solidarity: revisiting the Euro experiment," LSE Research Online Documents on Economics 90201, London School of Economics and Political Science, LSE Library.
    9. Lili Wang & Xianwen Wang & Niels J. Philipsen, 2017. "Network structure of scientific collaborations between China and the EU member states," Scientometrics, Springer;Akadémiai Kiadó, vol. 113(2), pages 765-781, November.

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