Abstract
ABSTRACT The recent reforms of the euro zone are best explained in three steps: (a) member states’ preferences were determined by national governments on the basis of their economic interests, which are interpreted through a distinct set of ideas, (b) the diverging preferences among member states translated into a straightforward intergovernmental bargaining setting, and (c) the European Commission maintained a leading role throughout the process of negotiating policy outcomes. On the interstate bargaining level, all major reform proposals were negotiated between two opposing groups of member states: one advocating for fiscal discipline and the other asking for more burden sharing and transfers. In this intergovernmental bargaining setting, the Commission was influential in policy negotiations and in turning the political compromises into reform outcomes. Taken together, the politics of euro zone reform were shaped by the conflict among two opposing coalitions of member states and the influential role of the Commission.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
