L’euro, une monnaie incomplète: retour sur les ambiguïtés du compromis historique, politique et idéologique lors de la création de la BCE

Edwin Le Heron

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Abstract: The European Central Bank is one of the major institutional innovations of the last century. For the first time, sovereign and equal countries agreed to abandon their currency to create at the level of Europe a new institution able to manage a new European currency, the euro. Like any institution, ECB and euro are essentially a project to work together. To understand this wish to work together, we will examine the history, the ambiguities of the political project, between Anglo-Saxon liberalism, Ordoliberalism and Europeanism, and the status of the euro, a key issue of economic theory. The ECB is a partial federal institution in a European Union that is not. ECB is born from a historic, political and ideological ambiguous compromise, which led to an unfinished currency, accounting for much of the difficulties in Eurozone today. We will make some proposals to improve the functioning of this institution.

Keywords: ECB (European Central Bank); euro zone; liberalism; europeanism; BCE (Banque centrale européenne); zone euro; libéralisme; européisme (search for similar items in EconPapers)
Date: 2015-06-01
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Published in Economie et institutions, 2015, 22, ⟨10.4000/ei.1024⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-02615087

DOI: 10.4000/ei.1024

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