 The Stability and Growth Pact – Germanising the EuroRuth Hoekstra, Cecile Horstmann, Juliane Knabl, Derek Kruse and Sarah Wiedemann International Journal of Public Policy, 2008, vol. 3, issue 1/2, 100-117 Abstract: The Stability and Growth Pact (SGP) was agreed upon by the European Union Member States in 1997 to maintain and enforce fiscal discipline in the EU. Applying the agenda-theory approach, this paper seeks to explain how the German government was influenced by domestic actors such as the German Central Bank, parties, labour unions, and employers' associations during the negotiations. The evolution of the SGP was strongly influenced by the ideas, interests and ideologies of the German media democracy. Our findings show that the SGP constituted a political instrument that was implemented to overcome the German public's scepticism of a united Europe. While many of the domestic actors played critical roles during the process, the German Central Bank, assisted by the Federal Government, was of paramount importance during the negotiations. Germany's leading role in the SGP negotiations can be explained by the European-wide acceptance of its exemplary decades-long stabilisation policy. Keywords: Stability and Growth Pact; SGP; agenda theory; European Monetary Union; EMU; European Union; EU fiscal discipline; Germany; stabilisation policy. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijpubp:v:3:y:2008:i:1/2:p:100-117 Access Statistics for this article More articles in International Journal of Public Policy from Inderscience Enterprises Ltd |
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