Fiscal Policy Without a State in EMU?: Germany, the Stability and Growth Pact and Policy Coordination

Cover......Page 1
Contents......Page 6
List of Figures and Tables......Page 11
Acknowledgements......Page 13
Introduction......Page 15
Part I: Germany, the Stability and Growth Pact and Policy Coordination on the Political and Economic Agenda in Europe......Page 18
1.1 Europeanisation and European economic integration......Page 20
1.2 EMU and fiscal policy coordination......Page 29
1.3 Outline of the book......Page 34
Part II: Fiscal Policy Coordination under the Stability and Growth Pact in Economic and Monetary Union......Page 38
2.1 Theory of institutional fiscal policy coordination......Page 40
2.2 Formal rules of fiscal policy coordination......Page 47
2.3 Institutional procedures in fiscal policy coordination......Page 54
2.4 Adaptation pressures of the Stability Pact in EMU......Page 60
3.1 German fiscal challenges in the post-reunification era......Page 70
3.2 Stabilisation and/or room for national fiscal flexibility......Page 78
3.3 Designing and securing national fiscal stability in EMU......Page 91
3.4 Securing German national \"fits\" 1995–1997......Page 97
4.1 Political changes and refocusing fiscal policy......Page 103
4.2 Policy adjustments and the financial reality......Page 111
4.3 Unforeseen changes in the German economic environment......Page 122
4.4 Dealing with German national \"misfits\" 1998–2002......Page 137
5.1 Adjusting to European economic authority and monitoring......Page 144
5.2 \"Frozen\" and \"softened\" European fiscal policy coordination......Page 152
5.3 Economic developments and room for national fiscal flexibility......Page 169
5.4 Reuploading German national \"fits\" 2003–2005......Page 181
Part III: Germany, the Stability and Growth Pact and Policy Coordination: Institutional Capacity for Effective Fiscal Policy Coordination in EMU......Page 186
6.1 Institutional system of the Stability and Growth Pact......Page 188
6.2 National adjustments, political commitments and economic coordination......Page 206
6.3 Fiscal policy coordination under the coming fiscal challenges in Europe......Page 218
7.1 Uploading, downloading and reuploading of Europeanisation......Page 226
7.2 Fiscal policy without a state in EMU?......Page 239
Appendix: Eleven Years of the Stability Pact in the European Union 1995–2005......Page 252
Notes......Page 253
Bibliography......Page 279
D......Page 306
E......Page 307
G......Page 308
N......Page 309
U......Page 310
W......Page 311