The idea for this volume came from the enigma that some Central and Eastern European (CEE) European Union (EU) member states have been keen to join the Eurozone while others have shown persistent reluctance. Moreover, the attitudes towards joining have seemingly not correlated with either the level of economic development or the time spent as part of the EU, nor with any other rational reason such as the level of integration into the EU real economy, or the level of trust in the EU on the part of the public. Therefore, at first sight, the answer to the question ‘why in, why out?’ remains rather unclear. The attractiveness of the currency union has nevertheless not disappeared for the CEE countries. Despite the Eurozone crisis of 2010–13, it was during that time that the Baltic states introduced the euro. Then, after a few years of inactivity, Croatia and Bulgaria successfully applied for membership of the exchange rate mechanism in July 2020, amid the economic crisis caused by the coronavirus (COVID-19) pandemic. At the same time, the three Visegrad countries still using their national currencies – Poland, Czechia and Hungary – no longer have a target date to join the monetary union. This volume aims to discuss these issues from horizontal aspects and through country studies, with contributions from expert authors from, or closely related to, the CEE region.

The establishment of Banking Union represents a major development in European economic governance and European integration history more generally. Banking Union is also significant because not all European Union (EU) member states have joined, which has increased the trend towards differentiated integration in the EU, posing a major challenge to the EU as a whole and to the opt-out countries. This book is informed by two main empirical questions. Why was Banking Union - presented by proponents as a crucial move to 'complete' Economic and Monetary Union (EMU) - proposed only in 2012, over twenty years after the adoption of the Maastricht Treaty? Why has a certain design for Banking Union been agreed and some elements of this design prioritized over others? A two-step explanation is articulated in this study. First, it explains why euro area member state governments moved to consider Banking Union by building on the concept of the 'financial trilemma', and examining the implications of the single currency for euro area member state banking systems. Second, it explains the design of Banking Union by examining the preferences of member state governments on the core components of Banking Union and developing a comparative political economy analysis focused on the configuration of national banking systems and varying national concern for the moral hazard facing banks and sovereigns created by euro level support mechanisms.

This book seeks to analyse the development of the European Union (EU), which was founded upon the principle of the free movement of capital, goods, services and people in 1957. Its central thesis is that, from a practical and theoretical point of view, such a basis is fundamentally at odds with the creation of an interventionist regime that the construction of a social Europe would require. The authors argue convincingly that - economically: the EU does not currently possess the budget or the economic tools to pursue such a strategy; politically: close to none of the institutions of the EU have backed such a policy; practically: conservative and neo-liberal forces (among member states and the institutions of the EU) have repeatedly thwarted any moves in this direction. In reality, the Single Internal Market, Economic and Monetary Union, enlargement, the Lisbon Agenda and European Constitution projects all prioritise supply-side measures and expanding the scope of the market rather than the boosting of demand and other economic intervention. Consequently, constructing a social Europe in the face of this would appear problematic. Hence, in both theory and practice, the idea that there can be a social Europe vis-à-vis neoliberalisation is a contradiction in terms. This controversial book will be an educating and refreshing read for advanced students and academics involved with European politics, the European Union, European Economics and Economic instititutions.

This collection of essays explores the ramifications of the Brexit decision for the UK and European economies. These essays provide an important first step in assessing the threats and challenges that a Brexit poses for the UK and wider EU economy and will be welcome reading for anyone in search of some rigor and clarity amid the hyperbole.

Looks at how EU political institutions in security and defense have developed through the political economy of interest group intermediation.

The delegation of policy-competencies to the European Union has changed the context in which national actors form their interests and represent them. Shaping European markets and societies, EU regulation has important effects in the member states. This book analyses how business interest organizations respond to this challenge and what strategies they develop to cope with European integration. Starting from the idea that institutional contexts, resource dependencies, and organizational characteristics explain, to a considerable degree, how interest groups adapt to EU policy-making, this study delivers important insights into EU governance. The empirical analysis draws on a comprehensive data set of German, British, French, and EU business associations and large firms. Divided into three parts, it moves from the study of domestic contexts to the analysis of multilevel-governance in the EU before finally scrutinizing in greater detail the factors that shape the access of interest groups to the EU institutions. Making an important contribution to the development of institutional and organizational accounts of interest groups in the EU, this book will be of interest to political scientists, economists, and sociologists working in the areas of European integration, comparative European politics, political economy, interest groups and civil society.

Successive Enlargements to the European Union membership have transformed it into an economically, politically and culturally heterogeneous body with distinct vulnerabilities in its multi-level governance. This book analyses core-periphery relations to highlight the growing cleavage, and potential conflict, between the core and peripheral member-states of the Union in the face of the devastating consequences of Eurozone crisis. Taking a comparative and theoretical approach and using a variety of case studies, it examines how the crisis has both exacerbated tensions in centre-periphery relations within and outside the Eurozone, and how the European Union’s economic and political status is declining globally. This text will be of key interest to students and scholars of European Union studies, European integration, political economy, public policy, and comparative politics.