Monetary Union and the Transatlantic and Social Dimensions of Europe's Crisis

Cafruny, Alan; Ryner, Magnus

doi:10.1080/13563460701302927

Cited by 23 publications

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“…Its nationality on the other hand remains relevant, for instance through historically established regional axes of internationalisation. Thus the collapse of the Soviet bloc activated Europe's preferential access to Eastern Europe, which in the circumstances became a lever for reforming the remaining structures of social protection through flexibilisation of labour and downsizing welfare state arrangements (Cafruny and Ryner, 2007b;Raviv, 2008;Holman, 2008: 68ff).…”

Section: Transnational Capital and The Post-1991 European Governance mentioning

confidence: 99%

The resurgence of German capital in Europe: EU integration and the restructuring of Atlantic networks of interlocking directorates after 1991

Pijl

Holman

Raviv

2011

Review of International Political Economy

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The resurgence of German capital in Europe: EU integration and the restructuring of Atlantic networks of interlocking directorates after 1991 van der Pijl, K.; Holman, O.H.; Raviv, O. General rightsIt is not permitted to download or to forward/distribute the text or part of it without the consent of the author(s) and/or copyright holder(s), other than for strictly personal, individual use, unless the work is under an open content license (like Creative Commons). Disclaimer/Complaints regulationsIf you believe that digital publication of certain material infringes any of your rights or (privacy) interests, please let the Library know, stating your reasons. In case of a legitimate complaint, the Library will make the material inaccessible and/or remove it from the website. Please Ask the Library: http://uba.uva.nl/en/contact, or a letter to: Library of the University of Amsterdam, Secretariat, Singel 425, 1012 WP Amsterdam, The Netherlands. You will be contacted as soon as possible. Full terms and conditions of use: http://www.informaworld.com/terms-and-conditions-of-access.pdf This article may be used for research, teaching and private study purposes. Any substantial or systematic reproduction, re-distribution, re-selling, loan or sub-licensing, systematic supply or distribution in any form to anyone is expressly forbidden.The publisher does not give any warranty express or implied or make any representation that the contents will be complete or accurate or up to date. The accuracy of any instructions, formulae and drug doses should be independently verified with primary sources. The publisher shall not be liable for any loss, actions, claims, proceedings, demand or costs or damages whatsoever or howsoever caused arising directly or indirectly in connection with or arising out of the use of this material. Review of International Political Economy 2010, iFirst: 1-25The resurgence of German capital in Europe: EU integration and the restructuring of Atlantic networks of interlocking directorates after 1991 Department of Political Science, University of Amsterdam, The Netherlands ABSTRACTEuropean integration is interpreted in this paper as the route by which (West) Germany, profiting from close ties with the English-speaking West, was able to restore its full sovereignty and economic pre-eminence in Europe. Yet in shaping the actual integration process, it was France which played the key role. Most of the landmark steps towards the current EU were French proposals to pre-empt Anglophone-German collusion; creating European structures in which a resurgence of Germany (politically and economically) was made subject to permanent negotiation. German unification in 1991 removed the one reason why successive governments of the Federal Republic had gone along with this. Paradoxically, sovereign Germany today finds itself bound by the dense networks of consultation and decision-making which make the EU unique in the field of regional integration. The paper shows that between 1992 and 2005, German capital has moved to the ce...

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Section: Transnational Capital and The Post-1991 European Governance mentioning

confidence: 99%

The resurgence of German capital in Europe: EU integration and the restructuring of Atlantic networks of interlocking directorates after 1991

Pijl

Holman

Raviv

2011

Review of International Political Economy

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“…Scholars qualifying EMU this way ranged from political scientists working on the European Union EU (Dyson 1994(Dyson , 2000Hay et al 1999;Hay 2000;Jenson and Pochet 2005;Leander and Guzzini 1997) to heterodox (political) economists (Arestis et al 2001;Baimbridge et al 1999;Grahl and Teague 1997;Teague 1998) to constructivists (Marcussen 2000;McNamara 1998;Verdun 2000) and to critical theorists and neo-Gramscians (Bieler 2003;Bieling 2001;Cafruny and Ryner 2007;Gill 1998;Wylie 2002). One lacuna in the literature stems from the ambiguity that generally surrounds these claims -seldom do scholars substantiate their claims regarding the nature of EMU and the terms 'neoliberal' and 'monetarist' were used liberally and interchangeably.…”

Section: Consensus On Emu's Governance: Neoliberal Conversion To Macrmentioning

confidence: 98%

On consensus, constraint and choice: economic and monetary integration and Europe's welfare states

Bölükbaşi¹

2009

Journal of European Public Policy

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This article reassesses the theoretical expectations and empirical findings in the political economy literature on the impact of economic and monetary union (EMU) on European welfare states. After summarizing the literature which views EMU as the symbol of the primordial conversion to neoliberalism, the article identifies the underlying hypothesis, assumptions, and predictions of the earlier, largely apprehensive literature of the 1990s which was based on ex ante convictions on EMU's social consequences. Then it reviews more recent ex post studies pointing to dynamics of welfare state resilience informed by new empirical evidence that became available and new theoretical approaches that became influential. After highlighting the conditions under which welfare reforms have taken place and the role played by EMU in these processes, this article concludes by re-evaluating the earlier expectations in the literature in light of the empirical findings and draws lessons for the discipline of political economy.

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“…Under such constraint, the European Union provides the model example of the emergence of a competition 'state' with its own constitutional design actively opposed to macroeconomic activism. Indeed it is the virtual absence of centralised budgetary competence, coupled to a constitutionally determined asymmetry favouring anti-inflationary policy, transnational dollar hegemony and US macroeconomic exceptionalism (Cafruny and Ryner 2007), that, for such critics, most defines the EU within global governance as a project of 'embedded neoliberalism'.…”

Section: Macroeconomic Autonomy and The Projection Of Monetary Power:mentioning

confidence: 99%

“…In fact, this monetary disunion gave expression to the 'exceptional' structural power of the US, itself dependent upon dollar hegemony, which increased, rather than diminished, following the dollar's decoupling from gold and subsequently from other currencies (Cafruny and Ryner 2007). Within the context of floating exchange rates, the dollar's continuing global role as the principal medium for international exchange, the principal reserve currency and monetary store of value, and the main international monetary investment instrument, granted the US a high degree of macroeconomic autonomy, because it assured strong international demand for the dollar.…”

Section: The Changing Balance Of International Monetary Powermentioning

confidence: 99%

“…Such critics radically dispute the efficacy of the German model as an accumulation strategy for the eurozone (e.g. Bellofiore et al 2011) while fundamentally denying that EMU's 'constitutionalised' governance is sufficiently flexible to be subject to reforms and compromises needed to deliver stabilising outcomes, still less the transformative changes necessary to strengthen the euro (Cafruny and Ryner 2007;Gill 1998a). Radicals argue that this view is supported by evidence suggesting that reform has been minimalist, technocratic and ad hoc, responding to each stage of the crisis with remedial emergency measures while failing to address underlying causes of the crisis or provide a clear strategic vision for the future of EMU.…”

Section: Two Models Of the Euro And The Eurozone Policy Processmentioning

confidence: 99%

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Towards a New Political Economy of Development

Strange¹

2014

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The global political economy is in flux as a series of cumulative crises impacts its organization and governance. The IPE series has tracked its development in both analysis and structure over the last three decades. It has always had a concentration on the global South. Now the South increasingly challenges the North as the centre of development, also reflected in a growing number of submissions and publications on indebted Eurozone economies in Southern Europe.An indispensable resource for scholars and researchers, the series examines a variety of capitalisms and connections by focusing on emerging economies, companies and sectors, debates and policies. It informs diverse policy communities as the established trans-Atlantic North declines and 'the rest', especially the BRICS, rise.

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Monetary Union and the Transatlantic and Social Dimensions of Europe's Crisis

Cited by 23 publications

References 0 publications

The resurgence of German capital in Europe: EU integration and the restructuring of Atlantic networks of interlocking directorates after 1991

The resurgence of German capital in Europe: EU integration and the restructuring of Atlantic networks of interlocking directorates after 1991

On consensus, constraint and choice: economic and monetary integration and Europe's welfare states

Towards a New Political Economy of Development

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