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Europe Beyond the EuroNot All Member States Are Created Equal

Europe Beyond the Euro: Not All Member States Are Created Equal [This chapter analyses how the Economic and Monetary Union (EMU) and its follow-on initiatives have led to an EU divided into a core and a periphery between member states that have adopted the Euro and those that have not. The Banking Union takes the dichotomy further. Member states in the EU at the time of Maastricht (11 present EU member states) are advantaged compared to those (16) that have since joined. The requirement for non-members without opt-outs to join EMU as soon as specific, but anachronistic, conditions, and other later-devised conditions, are satisfied leads to divergence between requirement and reality, and may undermine the EU’s standing. Measures to avoid majoritarianism seek to provide protection to the periphery, but have been used by a minority to undermine the legitimate workings of the EU. The chapter looks at institutional developments within the core-periphery framework, as well as extensions both outwards to the “near EU” and downwards from member states to the regions and the peoples.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Europe Beyond the EuroNot All Member States Are Created Equal

Part of the St Antony's Series Book Series
Enoch, Charles
Europe Beyond the Euro — Sep 25, 2021
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References (10)

Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
ISBN
978-3-030-77114-0
Pages
33 –46
DOI
10.1007/978-3-030-77115-7_3
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter analyses how the Economic and Monetary Union (EMU) and its follow-on initiatives have led to an EU divided into a core and a periphery between member states that have adopted the Euro and those that have not. The Banking Union takes the dichotomy further. Member states in the EU at the time of Maastricht (11 present EU member states) are advantaged compared to those (16) that have since joined. The requirement for non-members without opt-outs to join EMU as soon as specific, but anachronistic, conditions, and other later-devised conditions, are satisfied leads to divergence between requirement and reality, and may undermine the EU’s standing. Measures to avoid majoritarianism seek to provide protection to the periphery, but have been used by a minority to undermine the legitimate workings of the EU. The chapter looks at institutional developments within the core-periphery framework, as well as extensions both outwards to the “near EU” and downwards from member states to the regions and the peoples.]

Published: Sep 25, 2021

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