From the Werner Plan to the EMU

From the Werner Plan to the EMU

Author: Lars Magnusson

Publisher: Peter Lang Publishing

Published: 2001

Total Pages: 504

ISBN-13:

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The aim of this book is to explore the preconditions of a European political economy. The establishment of the monetary union and the European Central Bank constitutes a major step towards greater economic, social and political integration between the Member States of the European Union, and is therefore a momentous event in European history. What do the historically given preconditions of a European political economy mean in practice and theory in terms of future possibilities? With a historical perspective on European monetary integration, from the strains in the dollar-based Bretton Woods order in the 1960s and earlier, the Werner Plan around 1970, and the internal market in the 1980s to the Maastricht Treaty in 1992, future prospects of EMU are discussed. The book is based on the reflections of a working group at the European University Institute in Florence in operation from 1999 to 2001. The fifteen chapters are organised in clusters on the historical and conceptual setting, on financial institutions and economic theory, on social practices and legal framework, and on future prospects. Historians, philosophers, economists, political scientists and sociologists contribute to this interdisciplinary attempt to come to terms with both the preconditions and the prospects of EMU. Contents: Lars Magnusson/Bo Strath: From the Werner Plan to the EMU: In Search of a European Political Economy. Historical Perspectives and Future Prospects--Hubert Zimmermann: The Fall of Bretton Woods and the Emergence of the Werner Plan--Amy Verdun: The Political Economy of the Werner and Delors Reports: Continuity amidst Change or Change amidst Continuity?--David Purdy: Economic Theory and Policy from theKeynesian Revolution to the Third Way--J. Peter Burgess/Bo Strath: Money and Political Economy: From the Werner Plan to the Delors Report and Beyond--Lars Magnusson/Jan Ottosson: The Political Transaction Costs of the Convergence Criteria--The EMU Compromise for the Delors Committee to Maastricht--Sheila C. Dow: The ECB, Banking, Monetary Policy and Unemployment--Roger Hammersland: - We are arrogant because we are good--A Critical Appraisal of Central Banking versus Fiscal Policy in Accomplishing the Community Wide Convergence of the 1980s and 1990s--Ole Bjorn Roste: Labour Markets and the EMU: The Cases of Norway and Sweden--Barbara MacLennan: Finance, Gender and Structural Change in the European Union--Ulrike Liebert: Constructing EMU: Euro-Scepticism and the Emerging European Public Space--Diamond Ashiagbor: EMU and the Shift from a - Social Policy Agenda to an - Employment Policy Agenda in European Labour Law--Ton Notermans: The Werner Plan as a Blueprint for EMU?--Jos de Beus: Are Third Way Social Democrats Friends or Enemies of European Integration? A Tocquevillian Tale on the Politics of Administration--David Purdy: Welfare Reform, Social Citizenship and European Integration--Robert Salais: Filling the Gap between Macroeconomic Policy and Situated Approaches to Employment. A Hidden Agenda for Europe?--Lars Magnusson/Bo Strath: Postscript."


Book Synopsis From the Werner Plan to the EMU by : Lars Magnusson

Download or read book From the Werner Plan to the EMU written by Lars Magnusson and published by Peter Lang Publishing. This book was released on 2001 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this book is to explore the preconditions of a European political economy. The establishment of the monetary union and the European Central Bank constitutes a major step towards greater economic, social and political integration between the Member States of the European Union, and is therefore a momentous event in European history. What do the historically given preconditions of a European political economy mean in practice and theory in terms of future possibilities? With a historical perspective on European monetary integration, from the strains in the dollar-based Bretton Woods order in the 1960s and earlier, the Werner Plan around 1970, and the internal market in the 1980s to the Maastricht Treaty in 1992, future prospects of EMU are discussed. The book is based on the reflections of a working group at the European University Institute in Florence in operation from 1999 to 2001. The fifteen chapters are organised in clusters on the historical and conceptual setting, on financial institutions and economic theory, on social practices and legal framework, and on future prospects. Historians, philosophers, economists, political scientists and sociologists contribute to this interdisciplinary attempt to come to terms with both the preconditions and the prospects of EMU. Contents: Lars Magnusson/Bo Strath: From the Werner Plan to the EMU: In Search of a European Political Economy. Historical Perspectives and Future Prospects--Hubert Zimmermann: The Fall of Bretton Woods and the Emergence of the Werner Plan--Amy Verdun: The Political Economy of the Werner and Delors Reports: Continuity amidst Change or Change amidst Continuity?--David Purdy: Economic Theory and Policy from theKeynesian Revolution to the Third Way--J. Peter Burgess/Bo Strath: Money and Political Economy: From the Werner Plan to the Delors Report and Beyond--Lars Magnusson/Jan Ottosson: The Political Transaction Costs of the Convergence Criteria--The EMU Compromise for the Delors Committee to Maastricht--Sheila C. Dow: The ECB, Banking, Monetary Policy and Unemployment--Roger Hammersland: - We are arrogant because we are good--A Critical Appraisal of Central Banking versus Fiscal Policy in Accomplishing the Community Wide Convergence of the 1980s and 1990s--Ole Bjorn Roste: Labour Markets and the EMU: The Cases of Norway and Sweden--Barbara MacLennan: Finance, Gender and Structural Change in the European Union--Ulrike Liebert: Constructing EMU: Euro-Scepticism and the Emerging European Public Space--Diamond Ashiagbor: EMU and the Shift from a - Social Policy Agenda to an - Employment Policy Agenda in European Labour Law--Ton Notermans: The Werner Plan as a Blueprint for EMU?--Jos de Beus: Are Third Way Social Democrats Friends or Enemies of European Integration? A Tocquevillian Tale on the Politics of Administration--David Purdy: Welfare Reform, Social Citizenship and European Integration--Robert Salais: Filling the Gap between Macroeconomic Policy and Situated Approaches to Employment. A Hidden Agenda for Europe?--Lars Magnusson/Bo Strath: Postscript."


30 Years of European Monetary Integration from the Werner Plan to EMU

30 Years of European Monetary Integration from the Werner Plan to EMU

Author: Alfred Steinherr

Publisher: Addison Wesley Longman

Published: 1994

Total Pages: 332

ISBN-13:

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This text reflects on both past achievements and on the fundamental issues facing further European monetary integration. It includes a copy of the Werner Plan, extracts from the German constitutional court on the ratification of Maastrich and contributions from political figures.


Book Synopsis 30 Years of European Monetary Integration from the Werner Plan to EMU by : Alfred Steinherr

Download or read book 30 Years of European Monetary Integration from the Werner Plan to EMU written by Alfred Steinherr and published by Addison Wesley Longman. This book was released on 1994 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text reflects on both past achievements and on the fundamental issues facing further European monetary integration. It includes a copy of the Werner Plan, extracts from the German constitutional court on the ratification of Maastrich and contributions from political figures.


30 years of european monetary integration from the werner plan to EMU

30 years of european monetary integration from the werner plan to EMU

Author:

Publisher:

Published: 1993

Total Pages: 0

ISBN-13:

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Download or read book 30 years of european monetary integration from the werner plan to EMU written by and published by . This book was released on 1993 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:


Thirty Years of European Monetary Integration from the Werner Plan to EMU

Thirty Years of European Monetary Integration from the Werner Plan to EMU

Author: Alfred Steinherr

Publisher:

Published:

Total Pages: 328

ISBN-13: 9780608080628

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Book Synopsis Thirty Years of European Monetary Integration from the Werner Plan to EMU by : Alfred Steinherr

Download or read book Thirty Years of European Monetary Integration from the Werner Plan to EMU written by Alfred Steinherr and published by . This book was released on with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt:


Monetary Integration in Western Europe

Monetary Integration in Western Europe

Author: D. C. Kruse

Publisher: Butterworth-Heinemann

Published: 2014-05-12

Total Pages: 285

ISBN-13: 1483192377

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Monetary Integration in Western Europe: EMU, EMS and Beyond discusses the origins of the Economic Monetary Union, (the European Monetary System is the forerunner of the EMU), and the integration of the European Community starting from the Treaty of Rome. The Treaty provides most of the elements necessary for a monetary union. The Community attempts to formulate a systematic, coherent approach to monetary integration as contained in the Barre Report. The Barre Report proposes that progress in two areas, coordinating economic policies and instituting a system of mutual financial assistance, is essential. In the Hague Summit, the heads of state want to enlarge and closely integrate the members of the Community. A commission under Luxembourg Prime Minister and Finance Minister, Pierre Werner prepares the plan for the EMU. On March 22, 1971, the Six member states approve the adoption of the EMU in several stages, and formally launch the EMU project. The Six have as goals to promote exchange rate stability within the Community, to coordinate economic polies through consultation procedures, to settle structural differences through Community policies, and to liberalize the movement of goods, services, and the factors of production. Economists, sociologists, professors in economics, and policy makers involved in international economics, particularly with the EU, will find the book valuable.


Book Synopsis Monetary Integration in Western Europe by : D. C. Kruse

Download or read book Monetary Integration in Western Europe written by D. C. Kruse and published by Butterworth-Heinemann. This book was released on 2014-05-12 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary Integration in Western Europe: EMU, EMS and Beyond discusses the origins of the Economic Monetary Union, (the European Monetary System is the forerunner of the EMU), and the integration of the European Community starting from the Treaty of Rome. The Treaty provides most of the elements necessary for a monetary union. The Community attempts to formulate a systematic, coherent approach to monetary integration as contained in the Barre Report. The Barre Report proposes that progress in two areas, coordinating economic policies and instituting a system of mutual financial assistance, is essential. In the Hague Summit, the heads of state want to enlarge and closely integrate the members of the Community. A commission under Luxembourg Prime Minister and Finance Minister, Pierre Werner prepares the plan for the EMU. On March 22, 1971, the Six member states approve the adoption of the EMU in several stages, and formally launch the EMU project. The Six have as goals to promote exchange rate stability within the Community, to coordinate economic polies through consultation procedures, to settle structural differences through Community policies, and to liberalize the movement of goods, services, and the factors of production. Economists, sociologists, professors in economics, and policy makers involved in international economics, particularly with the EU, will find the book valuable.


Economic and Monetary Union

Economic and Monetary Union

Author: Michele Chang

Publisher: Red Globe Press

Published: 2016-07-22

Total Pages: 0

ISBN-13: 1137342935

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This introductory text looks at the economic and monetary integration of the EU. It examines the evolution and developments of the EMU from the Werner Plan in the 1960s to the eurozone crisis and subsequent reforms to financial policy. It includes detailed analysis of EMU institutions and assesses the impact of monetary union.


Book Synopsis Economic and Monetary Union by : Michele Chang

Download or read book Economic and Monetary Union written by Michele Chang and published by Red Globe Press. This book was released on 2016-07-22 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This introductory text looks at the economic and monetary integration of the EU. It examines the evolution and developments of the EMU from the Werner Plan in the 1960s to the eurozone crisis and subsequent reforms to financial policy. It includes detailed analysis of EMU institutions and assesses the impact of monetary union.


Should UK enter the EMU

Should UK enter the EMU

Author: Hartwin Maas

Publisher: GRIN Verlag

Published: 2008-08-25

Total Pages: 25

ISBN-13: 3640144287

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Essay from the year 2005 in the subject Business economics - Economic Policy, grade: 1,2, Arnhem Business School (Arnhem Business School), course: International Economics, language: English, abstract: Since the beginning of the idea of the European Monetary Union (EMU), UK had a negative attitude towards a single monetary policy with a single currency. This antipathy was amplified on the one hand by the withdrawal of the European Exchange Rate Mechanism in 1992 caused by different economic policies, oil price rises and German unification and on the other hand by the launch of the EMU in 1999. In fact the UK government starts to work towards cooperation with the EMU by setting specific goals. But before taking further steps, the criteria of the Maastricht Treaty have to be fulfilled and the five economic tests assessed by the UK government have to be passed. Since 1997 the UK has made real progress towards meeting the five economic tests. Although there are arguments that in a long term the payback of joining EMU offset the costs, the benefits are too low and the costs too high at the moment. The idea of one currency in Europe has been around for many years. But according to Pitchford the true launching of the EMU process dates from the Werner Committee which was set up in 1970 and submitted its final report, called 'the Werner Report', in February 1971. The first major step for the implementation of the Werner plan was the European 'currency snake' in 1972. Through this arrangement the fluctuations between participants' exchange rates should be limited to ± 2.25%. However, this process was not effective because of the collapse of the Bretton-Woods regime which determined a fixed exchange rate in terms of gold. The UK joined the snake system just for one month. A further step was the creation of the European Monetary System (EMS) in 1979. The main objective of this system was to create monetary stability in Europe. This should be realized by the fixed rates between the currencies of the participating countries which where settled on their value against the European Currency Unit (ECU4). The UK did not join in the EMS and was still remote at the time of Delors Report in 1989.


Book Synopsis Should UK enter the EMU by : Hartwin Maas

Download or read book Should UK enter the EMU written by Hartwin Maas and published by GRIN Verlag. This book was released on 2008-08-25 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2005 in the subject Business economics - Economic Policy, grade: 1,2, Arnhem Business School (Arnhem Business School), course: International Economics, language: English, abstract: Since the beginning of the idea of the European Monetary Union (EMU), UK had a negative attitude towards a single monetary policy with a single currency. This antipathy was amplified on the one hand by the withdrawal of the European Exchange Rate Mechanism in 1992 caused by different economic policies, oil price rises and German unification and on the other hand by the launch of the EMU in 1999. In fact the UK government starts to work towards cooperation with the EMU by setting specific goals. But before taking further steps, the criteria of the Maastricht Treaty have to be fulfilled and the five economic tests assessed by the UK government have to be passed. Since 1997 the UK has made real progress towards meeting the five economic tests. Although there are arguments that in a long term the payback of joining EMU offset the costs, the benefits are too low and the costs too high at the moment. The idea of one currency in Europe has been around for many years. But according to Pitchford the true launching of the EMU process dates from the Werner Committee which was set up in 1970 and submitted its final report, called 'the Werner Report', in February 1971. The first major step for the implementation of the Werner plan was the European 'currency snake' in 1972. Through this arrangement the fluctuations between participants' exchange rates should be limited to ± 2.25%. However, this process was not effective because of the collapse of the Bretton-Woods regime which determined a fixed exchange rate in terms of gold. The UK joined the snake system just for one month. A further step was the creation of the European Monetary System (EMS) in 1979. The main objective of this system was to create monetary stability in Europe. This should be realized by the fixed rates between the currencies of the participating countries which where settled on their value against the European Currency Unit (ECU4). The UK did not join in the EMS and was still remote at the time of Delors Report in 1989.


Should Uk Enter the Emu

Should Uk Enter the Emu

Author: Hartwin Maas

Publisher: GRIN Verlag

Published: 2008-09

Total Pages: 54

ISBN-13: 3640148894

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Essay from the year 2005 in the subject Business economics - Economic Policy, grade: 1,2, Arnhem Business School (Arnhem Business School), course: International Economics, language: English, abstract: Since the beginning of the idea of the European Monetary Union (EMU), UK had a negative attitude towards a single monetary policy with a single currency. This antipathy was amplified on the one hand by the withdrawal of the European Exchange Rate Mechanism in 1992 caused by different economic policies, oil price rises and German unification and on the other hand by the launch of the EMU in 1999. In fact the UK government starts to work towards cooperation with the EMU by setting specific goals. But before taking further steps, the criteria of the Maastricht Treaty have to be fulfilled and the five economic tests assessed by the UK government have to be passed. Since 1997 the UK has made real progress towards meeting the five economic tests. Although there are arguments that in a long term the payback of joining EMU offset the costs, the benefits are too low and the costs too high at the moment. The idea of one currency in Europe has been around for many years. But according to Pitchford the true launching of the EMU process dates from the Werner Committee which was set up in 1970 and submitted its final report, called 'the Werner Report', in February 1971. The first major step for the implementation of the Werner plan was the European 'currency snake' in 1972. Through this arrangement the fluctuations between participants' exchange rates should be limited to ± 2.25%. However, this process was not effective because of the collapse of the Bretton-Woods regime which determined a fixed exchange rate in terms of gold. The UK joined the snake system just for one month. A further step was the creation of the European Monetary System (EMS) in 1979. The main objective of this system was to create monetary stability in Europe. This should be realized by the fixed rates between t


Book Synopsis Should Uk Enter the Emu by : Hartwin Maas

Download or read book Should Uk Enter the Emu written by Hartwin Maas and published by GRIN Verlag. This book was released on 2008-09 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2005 in the subject Business economics - Economic Policy, grade: 1,2, Arnhem Business School (Arnhem Business School), course: International Economics, language: English, abstract: Since the beginning of the idea of the European Monetary Union (EMU), UK had a negative attitude towards a single monetary policy with a single currency. This antipathy was amplified on the one hand by the withdrawal of the European Exchange Rate Mechanism in 1992 caused by different economic policies, oil price rises and German unification and on the other hand by the launch of the EMU in 1999. In fact the UK government starts to work towards cooperation with the EMU by setting specific goals. But before taking further steps, the criteria of the Maastricht Treaty have to be fulfilled and the five economic tests assessed by the UK government have to be passed. Since 1997 the UK has made real progress towards meeting the five economic tests. Although there are arguments that in a long term the payback of joining EMU offset the costs, the benefits are too low and the costs too high at the moment. The idea of one currency in Europe has been around for many years. But according to Pitchford the true launching of the EMU process dates from the Werner Committee which was set up in 1970 and submitted its final report, called 'the Werner Report', in February 1971. The first major step for the implementation of the Werner plan was the European 'currency snake' in 1972. Through this arrangement the fluctuations between participants' exchange rates should be limited to ± 2.25%. However, this process was not effective because of the collapse of the Bretton-Woods regime which determined a fixed exchange rate in terms of gold. The UK joined the snake system just for one month. A further step was the creation of the European Monetary System (EMS) in 1979. The main objective of this system was to create monetary stability in Europe. This should be realized by the fixed rates between t


European Monetary Integration

European Monetary Integration

Author: George K. Zestos

Publisher: South Western Educational Publishing

Published: 2006

Total Pages: 296

ISBN-13:

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This shorter text provides a complete overview of European economic and monetary integrationand investigates the euro's impact on Europe and the rest of the global economy. It takes anintuitive approach to explaining the complicated issues regarding the formation of the EMUand the introduction of the euro.


Book Synopsis European Monetary Integration by : George K. Zestos

Download or read book European Monetary Integration written by George K. Zestos and published by South Western Educational Publishing. This book was released on 2006 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This shorter text provides a complete overview of European economic and monetary integrationand investigates the euro's impact on Europe and the rest of the global economy. It takes anintuitive approach to explaining the complicated issues regarding the formation of the EMUand the introduction of the euro.


Making the European Monetary Union

Making the European Monetary Union

Author: Harold James

Publisher: Harvard University Press

Published: 2012-11-19

Total Pages: 324

ISBN-13: 0674070941

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Europe’s financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not resolved at the time of the Euro’s invention. Since the 1960s, Europeans had been looking for a way to address two conundrums simultaneously: the dollar’s privileged position in the international monetary system, and Germany’s persistent current account surpluses in Europe. The Euro was created under a politically independent central bank to meet the primary goal of price stability. But while the monetary side of union was clearly conceived, other prerequisites of stability were beyond the reach of technocratic central bankers. Issues such as fiscal rules and Europe-wide banking supervision and regulation were thoroughly discussed during planning in the late 1980s and 1990s, but remained in the hands of member states. That omission proved to be a cause of crisis decades later. Here is an account that helps readers understand the European monetary crisis in depth, by tracing behind-the-scenes negotiations using an array of sources unavailable until now, notably from the European Community’s Committee of Central Bank Governors and the Delors Committee of 1988–89, which set out the plan for how Europe could reach its goal of monetary union. As this foundational study makes clear, it was the constant friction between politicians and technocrats that shaped the Euro. And, Euro or no Euro, this clash will continue into the future.


Book Synopsis Making the European Monetary Union by : Harold James

Download or read book Making the European Monetary Union written by Harold James and published by Harvard University Press. This book was released on 2012-11-19 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Europe’s financial crisis cannot be blamed on the Euro, Harold James contends in this probing exploration of the whys, whens, whos, and what-ifs of European monetary union. The current crisis goes deeper, to a series of problems that were debated but not resolved at the time of the Euro’s invention. Since the 1960s, Europeans had been looking for a way to address two conundrums simultaneously: the dollar’s privileged position in the international monetary system, and Germany’s persistent current account surpluses in Europe. The Euro was created under a politically independent central bank to meet the primary goal of price stability. But while the monetary side of union was clearly conceived, other prerequisites of stability were beyond the reach of technocratic central bankers. Issues such as fiscal rules and Europe-wide banking supervision and regulation were thoroughly discussed during planning in the late 1980s and 1990s, but remained in the hands of member states. That omission proved to be a cause of crisis decades later. Here is an account that helps readers understand the European monetary crisis in depth, by tracing behind-the-scenes negotiations using an array of sources unavailable until now, notably from the European Community’s Committee of Central Bank Governors and the Delors Committee of 1988–89, which set out the plan for how Europe could reach its goal of monetary union. As this foundational study makes clear, it was the constant friction between politicians and technocrats that shaped the Euro. And, Euro or no Euro, this clash will continue into the future.