TY - JOUR
T1 - Legitimacy and efficiency
T2 - Revitalizing EMU ahead of enlargement
AU - Sadeh, Tal
AU - Jones, Erik
AU - Verdun, Amy
PY - 2007/12
Y1 - 2007/12
N2 - Eight years after the launch of its third stage, and on the brink of its expansion, the European Union's (EU) Economic and Monetary Union (EMU) has proven to be successful. However, EMU has also highlighted the diversity of its members economic performance, and their need to run larger public deficits than they initially committed to. This special issue attempts to find out what can be done to relieve the tensions in EMU. The source of EMU's difficulty seems to lie in its weak legitimacy, ambiguous gevernance, and asymmetric institutional design. The EU needs to improve its fiscal rules and streamline decision making in the European Central Bank without eroding legitimacy.
AB - Eight years after the launch of its third stage, and on the brink of its expansion, the European Union's (EU) Economic and Monetary Union (EMU) has proven to be successful. However, EMU has also highlighted the diversity of its members economic performance, and their need to run larger public deficits than they initially committed to. This special issue attempts to find out what can be done to relieve the tensions in EMU. The source of EMU's difficulty seems to lie in its weak legitimacy, ambiguous gevernance, and asymmetric institutional design. The EU needs to improve its fiscal rules and streamline decision making in the European Central Bank without eroding legitimacy.
KW - EMU
KW - EU
KW - Efficiency
KW - Enlargement
KW - Legitimacy
UR - http://www.scopus.com/inward/record.url?scp=35648999099&partnerID=8YFLogxK
U2 - 10.1080/09692290701642606
DO - 10.1080/09692290701642606
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AN - SCOPUS:35648999099
SN - 0969-2290
VL - 14
SP - 739
EP - 745
JO - Review of International Political Economy
JF - Review of International Political Economy
IS - 5
ER -