The Political Economy of Monetary Union in Europe

Paul De Grauwe

No 842, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: The Maastricht transition strategy towards monetary union is based on the idea that the transition strategy should be gradual, and that entry into the union should be conditional on the fulfilment of convergence criteria. It is argued in this paper that this approach is not based on an economic necessity, but on a political one. In particular, it serves the political objective of Germany to keep the union small.

Keywords: Europe; Monetary Integration; Political Economy (search for similar items in EconPapers)
JEL-codes: F33 F36 F42 (search for similar items in EconPapers)
Date: 1993-09
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Citations: View citations in EconPapers (18)

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