The IMF as a de facto institution of the EU: A multiple supervisor approach

Hodson, Dermot

doi:10.1080/09692290.2014.956136

Cited by 33 publications

(22 citation statements)

References 36 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The eurozone crisis opened a window of opportunity for the IMF to persuade EU member states of the benefits of the orchestration model of a fiscal council. In the post‐global financial crisis period the EU has increasingly relied on the IMF with regard to loan provisioning and economic surveillance, turning it into a de facto EU institution (Hodson, ). As a result of the diminished confidence in the Commission, the IMF gained access to various indirect channels of influencing EU policy‐making (Henning, ) and became almost indistinguishable from the traditional ‘engines' of deeper integration (Hodson, , pp.…”

Section: The Actors and Their Interests Behind The Creation Of Fmentioning

confidence: 99%

‘The Troika is Dead, Long Live the Domestic Troikas?': The Diffusion of National Fiscal Councils in the European Union

Tesche

2019

J of Common Market Studies

View full text Add to dashboard Cite

This article shows that the troika institutions – the European Commission, the European Central Bank and the International Monetary Fund – formed a technocratic consensus about the desirability of establishing national fiscal councils in the European Union (EU). Considerable disagreement existed, however, with regard to their design features. Each institution promoted a distinct mode of indirect governance by ranking national fiscal councils depending on their adopted governance model (agent, trustee or orchestrator). This persuasion, through entrepreneurial benchmarking, constitutes an important mechanism by which member states were nudged to adopt a distinct fiscal council model. Preference heterogeneity among the troika members ultimately prevented the spread of a one‐size‐fits‐all fiscal council in the EU.

show abstract

Section: The Actors and Their Interests Behind The Creation Of Fmentioning

confidence: 99%

‘The Troika is Dead, Long Live the Domestic Troikas?': The Diffusion of National Fiscal Councils in the European Union

Tesche

2019

J of Common Market Studies

View full text Add to dashboard Cite

show abstract

“…Hence, privatisation emerged as an area of political contestation at the domestic level. Thus, as in our first case, financial interests (primarily French and German creditors) played a key role as a coalition supporting the Commission and Council's delegation of power to the IMF in order to secure policy change (Hodson 2015).…”

Section: Memorandums Of Understanding (Mou)mentioning

confidence: 99%

“…The Troika dated from 2010 when the Eurogroup sought to utilise the IMF's technical expertise in crisis management to address the Greek crisis. The arrangement had its roots in previous collaboration to implement conditional loans to Hungary, Latvia and Romania (Hodson 2015;Kincaid 2016). Hence the Troika acted as a bridge between the EU and the IMF.…”

Section: Case Study 2: Reform Of Privatisationmentioning

confidence: 99%

“…The privatisation case suggests a further step being taken to insulate salient and unpopular policies from opposition and accountability. Hodson (2015) has suggested that the Troika has made the IMF a de facto EU institution, but it may be more helpful to conceptualise it as a bridge between the EU and the IMF, in effect a bridging venue, that joins these two 20 institutions and creates a new space within which policies that cannot be pursued within traditional EU structures can be developed and implemented.…”

mentioning

confidence: 99%

See 1 more Smart Citation

Explaining policy change in the EU: financial reform after the crisis

Burns

Clifton

Quaglia

2017

Journal of European Public Policy

View full text Add to dashboard Cite

The European Union (EU) has been hit by financial and economic crises since 2008. To shed light upon the impact of these crises this article reviews punctuated equilibrium theory (PET) to develop expectations that are tested against two cases of financial regulation and privatisation policy. In one, despite the demand for a new model from EU leaders, limited change occurred; in the other, despite legal limitations, significant change emerged. Analysis of the cases reveals a new form of policy venue, and the suggestion that the EU PET literature must consider more systematically and explicitly the role of veto players in shaping policy change.

show abstract

“…In this special issue, Hodson (2015) argues that during the crisis, the IMF emerged as a de facto 'decision-making body of the EU' because EU member states delegated monitoring powers to both the Fund and European Commission.…”

Section: The International Political Economy Of the Sovereign Debt Crmentioning

confidence: 99%

The political economy of the euro area's sovereign debt crisis: introduction to the special issue of theReview of International Political Economy

Howarth

Quaglia

2015

Review of International Political Economy

View full text Add to dashboard Cite

show abstract

The IMF as a de facto institution of the EU: A multiple supervisor approach

Cited by 33 publications

References 36 publications

‘The Troika is Dead, Long Live the Domestic Troikas?': The Diffusion of National Fiscal Councils in the European Union

‘The Troika is Dead, Long Live the Domestic Troikas?': The Diffusion of National Fiscal Councils in the European Union

Explaining policy change in the EU: financial reform after the crisis

The political economy of the euro area's sovereign debt crisis: introduction to the special issue of theReview of International Political Economy

Contact Info

Product

Resources

About