Both studies of political power and Europeanization studies have tended to neglect central banks. As the age of the euro reaches its 10th anniversary, it is timely to reflect on what it means for central banks, which have been at the forefront of the establishment of Economic and Monetary Union in the European Union. Central banks have been caught up in a major historic political project. What does it mean for them? What does the age of the euro tell us about the power of central banks, their Europeanization and whether they are coming to resemble each other more closely?
This book brings together a range of recognized academic specialists to examine the main political aspects of this question. How, and in what ways, has the euro Europeanized central banks (members and non-members of the Euro Area)? What have been its effects on the power of central banks and their use of power? Has the euro generated convergence or divergence in central banking? The book offers the first, in-depth and systematic political analysis of central banks in the first decade of the euro. It places the euro in its global and European contexts, including the US Fed and the Australasian central banks, patterns of differentiated integration in European central banking, and the European Central Bank. It offers a set of case studies of its effects on a representative sample of EU central banks (euro 'insiders' and 'outsiders') and looks at four main thematic areas (monetary policy, financial market supervision, accountability and transparency, and research).
The book contributes to Europeanization studies, comparative political economy, and studies of Economic and Monetary Union. It will be of major interest to students of the European Union and European integration, comparative European politics, and area and 'country' studies. More generally, it will interest all those interested in central banking and their pivotal and problematic position between politics and markets.

First published in 1988, Local Authorities and New Technologies seeks to address some of the key issues facing local government in the related areas of economic rejuvenation, new technology and European Community support. It considers what local authorities can learn from experience of technology promotion elsewhere in Western Europe, it considers which developments at European Community level are more relevant to technology promotion at the local level and discusses the role of European Community funding in the development of local initiatives in Britain. This book will be of interest to students of political science, European studies and geography.

First published in 1986, The Politics of the Communications Revolution in Western Europe deals with the political implications of the communications revolution, specifically with impacts on political debate and agenda, the policy process, the role of the state, and European integration. The communications revolution in Western Europe combined radical changes in the fields of computing, broadcasting and telecommunications, converging in the new media, and is intimately linked to the wider information technology revolution. The economic and social implications of the communications revolution are wide-ranging and include: the electronic office, tele-banking and tele-shopping, decentralisation of economic activities, major transformations in the labour markets, and the strategic role of the electronics industry. This book will be of interest to students of European studies, history and media studies.

First published in 1990, The Political Economy of Communications explores the central theme of the relationship between politics and markets in policy development. The contributors show how governments have been drawn into increasing interdependency by technological and market developments, with international institutions like the European Community becoming more important in these policy areas. They argue that neither government ideologies nor market and technological forces offer an adequate account of the processes of change in communications policy. These conclusions lead to a critique of central theories of international political economy, notably neo-liberalism, and the authors advocate instead a neo-pluralist perspective for the study of political economy of communications – an approach that takes institutions much more seriously as a central unit of analysis. The book will be of interest to students of international relations, European studies, and media and telecommunication studies, as well as to political scientists and economists concerned with public policy.

We are increasingly conscious of living in an era whose scale, dimensions and implications we do not fully comprehend. 'Interactivity', 'virtual reality' and 'global communications' are some of the most obvious dimensions of this new reality. Its implications include cross-media acquisitions and mergers by players like Murdoch, Viacom and Disney, and major questions about the future of the printed word and reading. This book does not attempt to offer a broad survey of the new digital age in all its aspects. Instead, it restricts its questions to cultural standards and the issue of quality in media. Culture First! argues that the proper study of culture is normative; and that the proper, and neglected, purpose of cultural studies should be the nurturing of normative argument and judgement. This purpose can be better pursued if we return to the distinction between our 'best self' and our 'ordinary self' when thinking about cultural questions; if we seek to articulate and think rigorously about aesthetic and ethical standards; and if we recognize the specific cultural values of the printed word and reading as an activity and that the printed word is more than just a medium.

With euro banknotes and coins starting to circulate as of January 2002, this timely book comes at a crucial juncture for the European Union. Exploring the origins of and progress toward the introduction of the euro, the contributors focus on the importance of economic and monetary union (EMU) as part of the larger process of European integration. Thus, chapters consider the value and limits of a range of theoretical approaches for understanding economic and monetary integration, the pros and cons of EMU's institutional design, and country-specific experiences. With an international group of leading scholars representing a range of disciplines, this book offers a broad perspective on the dynamics of EMU.

This new volume situates current debates about economic reform in Germany in illuminating historical and structural contexts. Showing how economic reform has become the central issue on the German political agenda, raising contentious issues of policy management and posing deeper questions about political beliefs and identities. It also examines the politics of the reform process, outlining competing views about the root causes of Germany's economic problems, the appropriate policy responses, and the distribution of costs. It situates the reform process in the wider context of the decline of the German economic model (Modell Deutschland) and Germany's transition from European 'pace-setter' to economic 'laggard'. Particular attention is paid to the following key questions: What continuities and discontinuities can be seen in Germany's political economy? Are globalization and Europeanization associated with a progressive neo-liberal ascendancy in economic reform? How does economic reform in Germany compare with that in other states, notably Britain and France? Are there distinctive patterns in the way domestic policymakers negotiate economic reform? How do the characteristics of the German labour market and welfare state condition economic reform? How much variation exists at the Laender levels? This book was previously published as a special issue of German Politics.

This new volume situates current debates about economic reform in Germany in illuminating historical and structural contexts. Showing how economic reform has become the central issue on the German political agenda, raising contentious issues of policy management and posing deeper questions about political beliefs and identities. It also examines the politics of the reform process, outlining competing views about the root causes of Germany's economic problems, the appropriate policy responses, and the distribution of costs. It situates the reform process in the wider context of the decline of the German economic model (Modell Deutschland) and Germany's transition from European 'pace-setter' to economic 'laggard'. Particular attention is paid to the following key questions: What continuities and discontinuities can be seen in Germany's political economy? Are globalization and Europeanization associated with a progressive neo-liberal ascendancy in economic reform? How does economic reform in Germany compare with that in other states, notably Britain and France? Are there distinctive patterns in the way domestic policymakers negotiate economic reform? How do the characteristics of the German labour market and welfare state condition economic reform? How much variation exists at the Laender levels? This book was previously published as a special issue of German Politics.

The single European market after 1992 presents a major challenge to small and medium-sized companies in the Community. Whether it is developing exports and/or fighting off new imports, Europe's entrepreneurs will have to `think European'. Moreover, the European Community institutions themselves have developed special policies designed to promote the interests of Europe's smaller companies. This volume explains how the EC's policies towards small and medium-sized enterprises have developed and what they currently entail. It guides the reader through the various EC policy initiatives and the new legislation - including that in the `1992' package - relevant to the smaller business company. It offers summaries of the key EC documents concerned, and presents a full listing of all the other relevant proposals and policies. Like the others in this series, the volume is both comprehensive and up-to-date: it discusses not only what the EC has done which is relevant to small businesses, but also what it is proposing to do in the future.

Small firms are at the forefront of the European economy. To develop exports and fight off imports Europe's entrepreneurs have to 'think European'. This volume guides you through the EC's special policies for small firms. This book should be of interest to lecturers and students of European studies and politics, individuals and companies within the public and private sectors.

With Economic and Monetary Union (EMU) the European Union is embarked on a major historic political project of formidable technical complexity. In January 2009 the Euro Area will be ten years old. What does the evidence from the first decade tell us about the significance of the euro for the EU and its member states? This book brings together a range of recognized academic specialists to examine the main political aspects of this question. How, and in what ways, has the euro Europeanized states (members and non-members), their institutions, policies and politics? What have been its effects on the location and use of power? Has the euro generated convergence or divergence? What political patterns can be identified? The book offers the first, in-depth and systematic political analysis of the first decade of the euro. It places the euro in its global and European contexts; offers a set of case studies of its effects on a representative sample of EU member states ('Anglo-Saxon', old 'D-Mark Zone', east central European and Baltic, Mediterranean, and Nordic); and looks at three key sectors (financial markets, wages and collective bargaining, and welfare reform). The book contributes to Europeanization studies, comparative political economy, and studies of Economic and Monetary Union (EMU). It will be of major interest to students of the European Union and European integration, comparative European politics, and area and 'country' studies.

With Economic and Monetary Union, the European Union has embarked on one of the biggest projects in its history. Previous literature has focused on how EMU came into being and on the policy issues that it raises. This text seeks to move the discussion forwards by offering a systematic evaluation of how it is affecting EU states, both members and non-members of the Euro-Zone. It explicitly situates EMU in the growing literature on Europeanization. It examines the effects on public policies, political structures, discourses, and identities. The book seeks to identify the scope of EMU's effects, the direction that it imparts to political and policy changes, the mechanisms by which it produces its effects, and the role of domestic institutions, political leadership and specific forms of discourse in shaping responses. In addition, the book assesses how, and with what effects, EMU is affecting key policy sectorslabour markets and wages, welfare states, and financial market governance.

The Road to Maastricht provides a comprehensive and definitive account of how Europe signed up to Economic and Monetary Union. The book examines the dynamics of the treaty negotiations, focusing of the beliefs, motives, strategies and use of institutions by the leading European Union players.

States, Debt, and Power argues for the importance of situating our contextually influenced thinking about European states and debt within a commitment to historically informed and critical analysis. It teases out certain broad historical patterns. The book also examines the inescapably difficult and contentious judgements about 'bad' and 'good' debt; about what constitutes sustainable debt; and about distributive justice at times of sovereign debt crisis. These judgements offer insight into the nature of power and the contingent nature of sovereign creditworthiness. Three themes weave through the book: the significance of creditor-debtor state relations in defining asymmetry of power; the context-specific and constructed character of debt, above all in relation to war; and the limitations of formal economic reasoning in the face of radical uncertainty. Part I examines case studies from Ancient Greece to the modern Euro Area and brings together a wealth of historical data that cast fresh light on how sovereign debt problems are debated and addressed. Part II looks at the conditioning and constraining framework of law, culture, and ideology and their relationship to the use of policy instruments. Part III shows how the problems of matching the assumption of liability with the exercise of control are rooted in external trade and financial imbalances and external debt; in financial markets and vulnerability to banking crisis; in the character of the 'private governance of public debt'; in who has power over indicators of sustainability; in domestic institutional and political arrangements; and in sub-national fiscal governance. Part IV looks at how the problems of mismatch between liability and control take on an acute form within the historical context of European monetary union, above all in Euro Area debt crises.

This book seeks to offer the first in-depth and systematic analysis of the challenges of the Euro Area and the eastward enlargement of the European Union. It focuses in particular on how the prolonged process of accession to the Euro Area is affecting domestic economic policies in the accession states of east central Europe. It contributes to Europeanization studies, comparative political economy and to studies of Economic and Monetary Union. It also provides a picture of processes of domestic transformation in such countries as the three Baltic States, Bulgaria, the Czech Republic, Hungary, Poland and Romania. The book brings together a range of recognized experts from across Europe and combines country and sectoral case studies with a thematic treatment. It begins by offering an 'outside-in' perspective, which situates the effects of EMU on the accession states in the wider context of the development of global economic norms. The second part focuses on an 'inside-out' analysis of how Euro Area accession affects the states of east central Europe - their policies, politics and public institutions. The final part assesses how Euro Area accession is affecting key policy sectors in east central Europe: financial market regulation, fiscal policies and welfare states and labour markets.

With Economic and Monetary Union, the European Union has embarked on one of the biggest projects in its history. Previous literature has focused on how EMU came into being and on the policy issues that it raises. European States and the Euro seeks to move the discussion forwards by offering the first systematic evaluation of how it is affecting EU states, both members and non-members of the Euro-Zone. It is the first book to explicitly situate EMU in the growing literature on Europeanization.

It examines the effects on public policies, political structures, discourses, and identities. The book seeks to identify the scope of EMU's effects, the direction that it imparts to political and policy changes, the mechanisms by which it produces its effects, and the role of domestic institutions, political leadership and specific forms of discourse in shaping responses. In addition, the book assesses how, and with what effects, EMU is affecting key policy sectors labour markets and wages, welfare states, and financial market governance. What conditions the degree of convergence discernible in these sectors? Finally, the book seeks to 'contextualize' EMU by assessing its effects both in comparison with other variables like globalization and in a historical perspective of the European Monetary System as a 'training ground'. The book combines sectoral and country case studies with a thematic treatment by recognized experts in their fields. It moves from globalization, through EU-level changes, to member states and finally to specific sectors.

The main conclusions are that EMU is most important in affecting the timing, tempo and rhythm of domestic change that these changes are experienced pre-eminently at the level of policy; that it strengthens pressures for convergence; but that different domestic institutional arrangements and discourses lead to variations in policy processes and effects and in the way change is 'framed'. In particular, whilst EMU contains a neo-liberalizing tendency exhibited most clearly in financial market effects, it is not to be characterized as a neo-liberal project by means of which the EU is becoming an economic and social space simply converging around Anglo-American market capitalism.

The Euro-Zone represents the single most important step in European Integration since 1957 and one of the boldest economic, monetary, and political projects in modern history. In this first major study, the author examines the major political questions raised by the birth of the Euro-Zone on January 1 1999 and argues for a more politically informed analysis and assessment of its nature, operation, and prospects. How does the Euro-Zone operate? What does it mean for European States and for the political strategies of governments? How is its operation to be explained? What are its prospects for stability? What kinds of policies are needed to strengthen its capacity to withstand crisis? The book stresses the ECB-centric nature of the Euro-Zone and its implications both for policy and polices in Europe and for theories of integration. The ECB emerges as a powerful 'policy pusher' and 'ideational leader', with an authority and power exceeding that of the European Commission in the integration process. Dyson examines the elated problems of social justice, democratic consent, and identity. He also argues that the Euro-Zone represents a process of transition to the EU as a 'stabilization Staten An innovative aspect of the book is its application of a strength-strain model for the purpose of analyzing and assessing the stability of the Euro-Zone. It concludes that the stability of the Euro-Zone will be strongly conditioned by three factors: how Kantian rather than Hobbesian or Lockeian its political culture proves to be, with a key reproducibility failing here on the quality of political leadership; its possession of policy interments to tackle liquidity as well as debt traps; and the speed and efficiency of mechanisms of 'bench marking, policy transfer, and 'lesson-drawing'.

This book uses extensive original archival and elite interview research to examine the attempt to rejuvenate liberalism as a means of disciplining democracy and the market through a new rule-based economic and political order. This rebirth took the form of conservative liberalism and, in its most developed form, Ordo-liberalism. It occurred against the historical background of the great transformational crisis of liberalism in the first part of the twentieth century. Conservative liberalism evolved as a cross-national phenomenon. It included such eminent and cultured liberal economists as James Buchanan, Frank Knight, Henry Simons, Ralph Hawtrey, Jacques Rueff, Luigi Einaudi, Walter Eucken, Friedrich Hayek, Alfred Muller-Armack, Wilhelm Roepke, Alexander Rustow, and Paul van Zeeland, as well as leading lawyers like Louis Brandeis, Franz Boehm, and Maurice Hauriou. Conservative liberals also played a formative role in establishing new international networks, notably the Mont Pelerin Society. The book investigates the rich intellectual inheritance of this variant of new liberalism from aristocratic liberalism, ethical philosophy, and religious thought. It also locates the social basis of conservative liberalism and Ordo-liberalism in the cultivated bourgeois intelligentsia. The book goes on to examine the attempts to embed this new disciplinary form of liberalism in Britain, France, Germany, Italy, and the United States, and to consider the determinants of its varying significance across space and over time. It concludes by assessing the historical significance and contemporary relevance of conservative liberalism and Ordo-liberalism as liberalism confronts a new transformational crisis at the beginning of the new millennium. Is their promise of disciplining democracy and the market a hollow one?

Who were key figures in the making of European monetary union? Which ideas did they contribute to ensuring that monetary union would be sustainable? How prescient were they in identifying the necessary and sufficient foundations of a sustainable monetary union? This book provides the first systematic historical examination of key architects of European monetary union in the period before its launch in 1999. Using original archival and interview research, it investigates the intellectual and career backgrounds of these architects, their networking skills, and their own doubts and reservations about the way in which monetary union was being constructed. In the light of the later Euro Area, Architects of the Euro deals critically with not just their contribution to the making of European monetary union but also their legacy. The book brings together a distinguished group of scholars working on the history of Economic and Monetary Union.

The creation of the single European currency and of the European Central Bank in the context of a wider economic and political union has been one of the most important projects of institution-building and policy development in post-1945 Europe. This book seeks both to place this project in its longer-term historical context and to complement the many secondary texts on this highly topical subject. It brings together for the first time, and offers analytical commentary on, the classic documents relevant to the process of constructing and developing European economic governance based on Economic and Monetary Union (EMU). The book includes the key documents concerned with developing and implementing policies from the period of inception and launch of European monetary union on 1 January 1999 to the end of its first decade and the onset of the global financial and economic crisis. The book makes available a large collection of documents about the policies and governance of the European economy, based around the creation of EMU. They are presented in a convenient and accessible form both for scholars and students and for market and policy practitioners concerned with the development of Europe's political economy. Those who are new to the subject should benefit from easy access to basic texts and related commentaries and references. Those who are more familiar with EMU will have a single key source of comprehensive and up-to-date references in terms of which past and current debates and policies have been framed. The primary sources that are made available here would otherwise be costly to access and use. In many cases documents have been rescued from obscurity. Their availability should help to inform and enrich public debate about the historical development of EMU and how the European economy is governed. In addition, the book offers extensive commentaries at the beginning of each section as well as on individual documents that seek to clarify changes in meanings and understandings over time and the background to these changes.

The creation of the single European currency and of the European Central Bank in the context of a wider economic and political union has been one of the most important projects of institution-building and policy development in post-1945 Europe. The first volume of European Economic Governanceand Policies seeks both to place this project in its longer-term historical context and to complement the many secondary texts on this highly topical subject. It brings together for the first time, and offers analytical commentary on, the classic documents relevant to the process of constructing and developing European economic governance based on Economic and Monetary Union (EMU). The book includes the 'classic' documents concerned with EMU and economic governance from before 1914 to the launch of European monetary union on 1 January 1999.
This volume makes available a large collection of often neglected historical documents about the governance of the European economy, based around the creation of EMU. They are presented in a convenient and accessible form both for scholars and students and for market and policy practitioners concerned with the historical development of Europe's political economy. Those who are new to the subject should benefit from easy access to basic texts and related commentaries and references. Those who are more familiar with EMU will have a single key source of comprehensive and up-to-date references in terms of which past and current debates and policies have been framed. The primary sources that are made available here would otherwise be costly to access and use. In many cases documents have been rescued from obscurity. Their availability should help to inform and enrich public debate about the historical development of EMU and how the European economy is governed. In addition, the book offers extensive commentaries at the beginning of each section as well as on individual documents that seek to clarify changes in meanings and understandings over time and the background to these changes.

Why have continental European societies developed the idea of the abstract impersonal state as the fundamental institution of political rule? Why, on the other hand, has this idea played a relatively insignificant part in the history of English-speaking countries? It is to such questions that this major study is addressed. With clarity and conciseness, Kenneth Dyson examines the fascinating tapestry of thought about public authority that the state tradition represents, and identifies the major individual contributions to that tapestry. In addition to offering a clear conceptualisation of state, he deals with such key issues as the role of the intellectual, the social function of state theories, and the difficulties of accommodating state and democracy.