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The political economy of EMU: rethinking the effects of monetary integration on Europe

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  • Soskice, David

Abstract

How will EMU influence the European political economy? This paper argues that most of the likely alternatives are unsustainable for at least some of the EMU member-states. As a result, the Stability Pact imposed by the Kohl government and the Bundesbank is likely to be rejected by other member-states. Additionally, EMU will most likely also have an effect on the relations within the German political economy, by unsettling the basic compromise between employers and labour unions that was at the basis of German export successes in recent decades.

Suggested Citation

  • Soskice, David, 1999. "The political economy of EMU: rethinking the effects of monetary integration on Europe," Discussion Papers, Research Unit: Economic Change and Employment FS I 99-302, Social Science Research Center Berlin (WZB).
  • Handle: RePEc:zbw:wzbece:fsi99302
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    File URL: https://www.econstor.eu/bitstream/10419/44089/1/269338810.pdf
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    Cited by:

    1. Hein, Eckhard, 2001. "Institutions and macroeconomic performance: Central bank independence, labour market institutions and the perspectives for inflation and employment in the European Monetary Union," WSI Working Papers 95, The Institute of Economic and Social Research (WSI), Hans-Böckler-Foundation.
    2. Michael Bolle & José Caétano & Jaakko Kiander & Vladimir Lavrac & Renzo Orsi & Tiiu Paas & Katarzyna Zukrowska, 2002. "The Eastward Enlargement of the Eurozone - State of the Art Report," Eastward Enlargement of the Euro-zone Working Papers wp02, Free University Berlin, Jean Monnet Centre of Excellence, revised 01 Jan 2002.

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