Leadership

Leadership

Leadership

Leadership
Political visions
3 April 2018

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

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?

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«This analysis shows that the ECB has become more open to economic ideas that stress the systemic nature of the Eurozone crisis, while downplaying the importance of EMU member states’ fiscal misconduct»