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"Completing Europe's eonomic and Monetary Union": Any support from the citizens?

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  • Farina, Francesco
  • Tamborini, Roberto

Abstract

The 'Five Presidents Report' cited in the title acknowledges that an important driver of the European economic crisis has been the faulty original design of the Monetary Union, and that substantial steps are urgently needed towards the creation of truly supranational institutions. Yet, economists tend to neglect that however compelling economic analyses may be, the stumbling block on the way of the reform of the Monetary Union is political will, and that in democracies the ultimate source of political will comes from electors. In this paper, first of all the authors wish to bring to the economists' attention some recent analyses of citizens' attitudes towards Europe from political science. Then, by cross-referencing the results of the 2014 elections of the European Parliament with Eurobarometer opinion polls eliciting judgements for the EU vis-à-vis home countries and an indicator of economic pain, the authors show the presence of a geo-economic-political cleavage across four groups of countries. This is more complex, and perhaps worse, than the simplistic divide between 'North' and 'South' or 'Core' and 'Periphery'. The main implication is that the EU experiences a stalemate between 'more Europe vs. less Europe' at the level of peoples, which seriously undermines support for further integration 'from below'.

Suggested Citation

  • Farina, Francesco & Tamborini, Roberto, 2017. ""Completing Europe's eonomic and Monetary Union": Any support from the citizens?," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy (IfW), vol. 11, pages 1-26.
  • Handle: RePEc:zbw:ifweej:201710
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    File URL: http://dx.doi.org/10.5018/economics-ejournal.ja.2017-10
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    References listed on IDEAS

    as
    1. Richard Rose & Gabriela Borz, 2016. "Static and Dynamic Views of European Integration," Journal of Common Market Studies, Wiley Blackwell, vol. 54(2), pages 370-387, March.
    2. Andrea Boitani & Roberto Tamborini, 2016. "New Institutions for an Effective EU and EMU Governance: A Brief Introduction," Politica economica, Società editrice il Mulino, issue 3, pages 375-386.
    3. Svenson, Ola & Nilsson, Goran, 1986. "Mental economics: Subjective representations of factors related to expected inflation," Journal of Economic Psychology, Elsevier, vol. 7(3), pages 327-349, September.
    4. Hooghe, Liesbet & Marks, Gary, 2009. "A Postfunctionalist Theory of European Integration: From Permissive Consensus to Constraining Dissensus," British Journal of Political Science, Cambridge University Press, vol. 39(01), pages 1-23, January.
    5. Hobolt, Sara B. & Wratil, Christopher, 2015. "Public opinion and the crisis: the dynamics of support for the euro," LSE Research Online Documents on Economics 60788, London School of Economics and Political Science, LSE Library.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    European Economic and Monetary Union; economic crisis; European integration; Eurobarometer opinion polls; 2014 elections of the European Parliament;

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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