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EP - EUI History Roundtable: The political theory of and economic background to Economic and Monetary Union – 25 years after the signature of the Maastricht Treaty

Dates:
  • Wed 31 May 2017 09.30 - 13.00
  Add to Calendar 2017-05-31 9:30 2017-05-31 13:00 Europe/Paris EP - EUI History Roundtable: The political theory of and economic background to Economic and Monetary Union – 25 years after the signature of the Maastricht Treaty

Video conference with the European Parliament, Brussels.

The signature of the 1992 Maastricht Treaty was a major step in the development of the European Union. It represents not only the key moment of the introduction of the single currency but also the result of difficult negotiations where important initial objectives fell by the wayside, notably the idea to accompany economic and monetary union (EMU) with stronger political integration. The financial and public debt crisis that started in 2008, as well as its later political fall-out, could hence be seen as the result of a political structure inadequate to accompany economic and monetary integration.

The European Parliament was an important actor in the preparatory phase and during the Intergovernmental Conference. Generally positively inclined towards stronger political integration as well as economic and monetary union there were nevertheless different weights attached to the two principal objectives in different political families. Therefore, parliamentary debates, resolutions and activities leading to Maastricht and the single currency are an important source to understand the context of monetary union.

The aim of the roundtable was to analyse the theories, ideas and traditional beliefs related to monetary union, such as Optimum Currency Area theory, monetarist and ordo-liberal thoughts or the so-called coronation theory of monetary integration. Contributions included institutionalist analyses as well as empirical economic and financial regulation research. The question as to whether EMU had an impact on European constitutionalisation has also been examined.

Sala del Capitolo, Badia Fiesolana DD/MM/YYYY
  Sala del Capitolo, Badia Fiesolana

Video conference with the European Parliament, Brussels.

The signature of the 1992 Maastricht Treaty was a major step in the development of the European Union. It represents not only the key moment of the introduction of the single currency but also the result of difficult negotiations where important initial objectives fell by the wayside, notably the idea to accompany economic and monetary union (EMU) with stronger political integration. The financial and public debt crisis that started in 2008, as well as its later political fall-out, could hence be seen as the result of a political structure inadequate to accompany economic and monetary integration.

The European Parliament was an important actor in the preparatory phase and during the Intergovernmental Conference. Generally positively inclined towards stronger political integration as well as economic and monetary union there were nevertheless different weights attached to the two principal objectives in different political families. Therefore, parliamentary debates, resolutions and activities leading to Maastricht and the single currency are an important source to understand the context of monetary union.

The aim of the roundtable was to analyse the theories, ideas and traditional beliefs related to monetary union, such as Optimum Currency Area theory, monetarist and ordo-liberal thoughts or the so-called coronation theory of monetary integration. Contributions included institutionalist analyses as well as empirical economic and financial regulation research. The question as to whether EMU had an impact on European constitutionalisation has also been examined.


Location:
Sala del Capitolo, Badia Fiesolana

Affiliation:
Robert Schuman Centre for Advanced Studies

Type:
Roundtable

Contact:
Sarah Beck - Send a mail

Attachment:
Programme
 
 

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