The Road To Maastricht: Negotiating Economic and Monetary Union
The Road To Maastricht: Negotiating Economic and Monetary Union
Professor of European Politics
Cite
Abstract
Structuralist explanations have dominated attempts to explain the process of European integration. However, as the negotiation of Economic and Monetary Union shows, policy leadership has been critical in launching, shaping, and sustaining this process. This leadership goes beyond policy entrepreneurship in setting the agenda to include the management of institutional venues in the pursuit of particular objectives.
The Franco–German relationship emerges as a key venue that defines the scope and limitations of policy leadership and that was crucial in binding in the Bundesbank and EU central bankers to the process. At the domestic level, the political drive from Kohl and Mitterrand was decisive. Delors was a key driving force, at certain stages, both within the European Commission and as chair of the Delors Committee. Together, they acted as animateurs and ingénieurs of Economic and Monetary Union. The strategic aspect of leadership in the cases of Britain and Italy was altogether different. The Thatcher and Major governments repeatedly misjudged the commitment of their partners to proceed, and the inflexibility of their positions prevented them from building countervailing coalitions. For Italy, EMU was a test of external credibility: domestic weakness limited her overall influence on the progress of the initiative, whilst EMU was seized upon by a small leadership group as a new vincolo esterno (external constraint) to secure otherwise difficult domestic reforms. This latter strategy was replicated more widely as member states endeavored to meet the entry criteria for participation in the single currency.
The outcome of the Maastricht Treaty was an imperfect agreement that generates serious future challenges for policy leadership. These challenges include cognitive gaps in EMU, institutional innovation, and imperfect legitimation.
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Front Matter
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Introduction: An Historical Overview
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1
Making Sense of the EMU Negotiations
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2
EMU, the Mitterrand Presidency, and French Political Tradition
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3
The Political Problem of Reconciling Domestic and International Interests in EMU: The Legacy of Barre, Giscard D'estaing, and Pompidou
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4
Challenging the ‘D‐Mark Zone’: Agenda‐Setting on EMU and the Strategy of Indirection Under Mitterrand, 1981–1989
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5
French Strategy for the IGC: Making EMU Irreversible
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6
EMU, the Kohl Chancellorship, and German Political Tradition: The Legacy of Adenauer and Erhard
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7
The Political Problem of Reconciling Domestic and International Interests in EMU: The Legacy of Schiller and Schmidt
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8
Negotiating EMU Around the German Model: Agenda‐Setting Under the Kohl Chancellorship, 1982–1989
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9
German Strategy for the IGC
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10
Italian Policy Beliefs About EMU: External Discipline Versus Internal Protection
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11
Framing EMU as a New Vincolo Esterno: Policy Entrepreneurs, Co‐Ordination, and Reflection in Italy, 1988–1990
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12
Italy and the IGC: Negotiating External Discipline, Avoiding Exclusion, 1990–1991
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13
The British Political Tradition and EMU: Policy Legacies, Beliefs, and Co‐Ordination
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14
Resisting EMU: Political Strategy, Policy Entrepreneurship, and Policy Reflection Before the IGC
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15
John Major: Between the Party and the IGC
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16
Jacques Delors as Policy Entrepreneur and Ingénieur of the EMU Negotiations: Agenda‐Setting and Oiling the Wheels
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17
Conclusions and Reflections
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End Matter
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