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Championing the 'German model'? Germany's consistent preferences on the integration of fiscal constraints
[journal article]
Abstract This article traces whether and how Germany’s preferences on the integration of fiscal constraints have evolved since the founding of the Economic and Monetary Union (EMU). Focusing on state elites and mass publics as driving forces of government preferences, the article also examines what has shape... view more
This article traces whether and how Germany’s preferences on the integration of fiscal constraints have evolved since the founding of the Economic and Monetary Union (EMU). Focusing on state elites and mass publics as driving forces of government preferences, the article also examines what has shaped German preferences since the Treaty of Maastricht. The article finds that elites welcomed the benefits of a single currency but feared the risks of high inflation and liability for other countries. Moreover, public scepticism about the euro translated into a 'constraining dissensus' regarding capacity-building in EMU. In line with these concerns, the German government sought to integrate fiscal constraints while leaving budgetary capacities at the national level. Thus, Germany adopted an instrumental approach to secure the success of the 'German model'. While Germany’s preferences have remained largely the same since the founding of EMU, the strategies to realize them have changed over the years.... view less
Keywords
Federal Republic of Germany; economic union; monetary union; fiscal policy; Eurozone; EU
Classification
Economic Policy
European Politics
Free Keywords
Politbarometer; eurozone governance; fiscal rules; core state powers
Document language
English
Publication Year
2021
Page/Pages
p. 191-207
Journal
Journal of European Integration, 43 (2021) 2
Issue topic
A member state like any other? Germany and the European integration of core state powers
DOI
https://doi.org/10.1080/07036337.2021.1877697
ISSN
1477-2280
Status
Published Version; peer reviewed
Licence
Creative Commons - Attribution-Noncommercial-No Derivative Works 4.0