The recent State of the Union speech by Jean-Claude Juncker sparked a discussion about the potential wider use of the euro on the international stage. Historically, it is not the first debate of this kind. I review four previous cases of debates on international currencies to reveal the different scenarios associated with their greater use, as well as the need to have a clear objective for a currency’s internationalisation.
The traditional story of European monetary cooperation in the 1970s following the abandonment of the Werner Plan in 1974, most often told …
What is particularly striking about this Capital Markets Union (CMU) discussion is that it is a rather old topic of debate within the EU – one that first emerged at a time when the European financial puzzle was set very differently.
The Excessive Deficit Procedure comes at the end of a long series of attempts at coordinating EU macroeconomic policies.
German trade surpluses are making once again the headlines. The European Commission decided yesterday to launch an investigation into Berlin’s “excessive” trade surplus. This surplus is so large, the Commission argues, that it saps the strength of the Eurozone economic balance (or, put differently, nurtures its imbalances). But is this concern really new?
This article deals with a significant institutional step in the history of European integration: the decision to hold EEC heads of state and government meetings on a regular basis.