European Responses to Globalization and Financial Market Integration: Perceptions of Economic and Monetary Union in Britain, France and Germany

Cover......Page 1
Contents......Page 8
List of Tables......Page 11
Preface......Page 12
Acknowledgements......Page 14
List of Abbreviations......Page 17
1 Introduction......Page 20
1.1 Theoretical framework......Page 22
1.2 A short historical background to EMU......Page 23
1.3 Selection of actors......Page 27
1.4 Aim of the study......Page 29
1.5 Assumptions and levels of analysis......Page 30
1.6 The research question......Page 33
1.7 The research method......Page 34
2.1 Economic rationale behind integration......Page 36
2.2 Theories of economic integration......Page 40
2.3 Political theories of integration......Page 46
2.4 Explanations of EMU – a literature survey......Page 57
2.5 An eclectic theory of integration......Page 63
3 A History of European Monetary Integration......Page 67
3.1 Three communities......Page 68
3.2 Between the Rome Treaty and the Hague Summit (1958–69)......Page 71
3.3 The Werner Report and its aftermath (1970–4)......Page 75
3.4 European monetary disillusion (1974–7)......Page 89
4.1 The EMS (1978–88)......Page 95
4.2 The relaunching of EMU – the Delors Report......Page 99
4.3 The intergovernmental conferences leading to the Maastricht Treaty......Page 107
4.4 Post Maastricht: a post-mortem?......Page 111
4.5 Conclusions......Page 115
5.1 Qualitative and quantitative research......Page 122
5.2 Interviews: a way to answer certain questions......Page 123
5.3 The method used for this research......Page 125
5.4 The questionnaire......Page 129
5.5 Conclusion......Page 135
6 Perceptions of Economic and Monetary Integration......Page 136
6.1 Question 1: History of EMU: why Werner/EMS were (not) desirable – the interests of the organization at that time......Page 137
6.2 Question 2: Under which conditions is EMU desirable? Attitudes towards the Delors Report, ‘One Market, One Money’ and the Maastricht Treaty......Page 149
6.3 Question 4: The future EMU and its effects......Page 165
6.4 Short summary of the main findings......Page 177
7.1 The central banks......Page 180
7.2 Finance Ministries......Page 183
7.3 Employers’ organizations......Page 186
7.4 Trade unions......Page 188
7.5 Conclusions – the horizontal comparison......Page 190
7.6 The vertical comparison – comparing the actors within each country......Page 191
7.7 Britain......Page 192
7.8 France......Page 196
7.9 Germany......Page 198
7.10 Conclusions......Page 200
8 Conclusions......Page 203
8.1 Economic theories not persuasive......Page 205
8.2 Limits of neo-functionalism and intergovernmentalism for understanding EMU......Page 206
8.3 Lessons from history......Page 210
8.4 A critique of integration theory: the development of an eclectic theory......Page 214
8.5 Actors’ perceptions of EMU......Page 218
8.6 Analysing the results......Page 223
8.7 Applying the eclectic theory......Page 225
8.8 In conclusion......Page 229
8.9 Recommendations for further research......Page 232
Notes......Page 233
References......Page 247
B......Page 270
C......Page 271
E......Page 272
H......Page 274
M......Page 275
S......Page 276
W......Page 277
P......Page 278
W......Page 279