European Central Bank

17 April 2019

Integration-through-crisis: The triumph of expediency over democratic legitimacy?

By Nicole Scicluna

Over the past decade, the response given by Member States to the multidimensional European crisis has given rise to a distinct integrative mode, namely ‘integration through crisis’, which may be contrasted with the integration through law that characterised the pre-Maastricht development of the European integration project.

3 July 2018

The Battle of Ideas on the Euro Crisis through the lenses of ECB Inter-Meeting Speeches

By Federico Maria Ferrara

The narrative on sovereign debt issues has changed from being focused on the benefits from fiscal consolidation to highlighting the importance of addressing systemic risk and financial fragmentation in the EMU.

4 June 2018

The politicization of the European Central Bank: A more charismatic actor?

By Pamela Pansardi and Pier Domenico Tortola

Our overall findings thus offer further support to the diffuse observations of a politicization of the ECB also in terms of the way its Presidents have started communicating with the public.

3 April 2018

Germany’s leadership role in the Eurozone revisited: past and present

By Siegfried Schieder and Claudia Guarneri

Notions such as ‘leadership’ or ‘hegemony’ suggest that without a strong Germany to enforce the Eurozone’s fiscal restrictions, the implementation of difficult albeit necessary structural reforms would not be successful at preserving the Euro. However, is it justified to view Germany as a leading power during the Eurozone crisis? Moreover, what does the new German government mean for the Eurozone’s ambitious plans for deeper economic integration?

«Assuming no major political shake-up in Germany and a continuation of the Grand Coalition under Angela Merkel leading Germany into its Council presidency in 2020, no great leaps for the vision of a credible social dimension of the Eurozone can be expected»

European Central Bank

European Central Bank

Integration-through-crisis: The triumph of expediency over democratic legitimacy?

The Battle of Ideas on the Euro Crisis through the lenses of ECB Inter-Meeting Speeches

The politicization of the European Central Bank: A more charismatic actor?

Germany’s leadership role in the Eurozone revisited: past and present

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