Kuehnhardt - Chapter 04 | eBooks | Non-Fiction

Kuehnhardt - Chapter 04

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Through Crises to EMU

Perspectives for Fiscal Union and Political Union

In this chapter, I discuss the links between economic, monetary, fiscal, and political union from a perspective of political economy. I argue that the sustainability of cooperative arrangements among sovereign states, like economic and monetary unions, is threatened by crises emerging from two conflict potentials. The horizontal conflict potential results from the uneven distribution of the benefits and costs of economic and monetary integration among the member countries. The vertical conflict potential results from the possibility of abuse of resources and political powers by the center of the union.

Through Crises to EMUPerspectives for Fiscal Union and Political UnionJürgen von HagenIn this chapter, I discuss the links between economic, monetary, fiscal, and political union from a perspective of political economy. I argue that the susta
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