This paper discusses macroeconomic and monetary policy-making at the European Commission, covering the period from the Rome Treaties to the Hague Summit. It is based on an analysis of public documents, archival research and interviews with former policy-makers. The paper starts with an overview...

Tommaso Padoa-Schioppa was one of the great architects of the euro. He is remembered in particular as co-rapporteur for the Delors Committee and as a founding member of the European Central Bank's Executive Board. For Padoa-Schioppa, becoming Director-General of the European Commission's DG II...

The central cause for the crisis in Europe is not undisciplined spending by profligate states, but the asymmetric structural symbiosis between states and banks. Under the current European regime states are lenders of last resort for banks and banks are lenders of last resort for states. That...