Books > Social sciences > Politics & government > Political structure & processes > Constitution, government & the state
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Rush to Union - Understanding the European Federal Bargain (Hardcover, New)
Loot Price: R3,590
Discovery Miles 35 900
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Rush to Union - Understanding the European Federal Bargain (Hardcover, New)
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Total price: R3,610
Discovery Miles: 36 100
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The decision of Maastricht to create a political union and in
particular to move towards a single currency constitutes something
of an intellectual puzzle. Why did political leaders agree to cede
the most important economic function of the modern state to a
supernational authority? And why was the decision taken in 1991
rather than 1981 or 1961? This book attempts to answer these
questions by adapting William Rikers's federalism theory to the
European case. Part I of the book makes the claim that by the late
1980s political elites in all the EU member states had become
convinced that inflation must be controlled at all costs and that
the only way of ensuring this was the adoption of a single currency
policy policed by an independant European bank. Alternative
policies based on economic nationalism were discredited and no
major political party in any of the EU states dissented from the
single currency solution. The commitment to the resulting federal
bargain became evident during the currency crisis of 1992 and 1993
when governments of both left and right pursued deflationary
policies in the midst of a recession in order to retain their
credibility as potential candidates for monetary union. Part II
considers the viability of union by examining the relationship
between fiscal centralization and political centralization in
Europe and in other federations. It is argued that given the
variations among member states, European union can only work with a
relatively strong federal government accountable via Europe-wide
political parties operating in a powerful European Parliament. The
book concludes that European political union is not tenable in the
absence of these fundamental changes.
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