This essay discusses how recent developments have modified the existing allocation of tasks between the EU and national levels and the legitimising mechanisms in decision-making by the EU institutions. It examines in turn the increasing differentiation emerging in member states’ participation...

This policy contribution describes the unresolved adjustment problems confronting the eurozone, and places them in historical perspective by comparing developments in key real economic variables under EMU with those observed under the Bretton Woods system. The main finding is that the eurozone...

In this contribution, Stefano Micossi, Alexandra D'Onofrio and Fabrizia Peirce examine the influence of the euro on the German economy and the role Germany has played in the evolution of Europe's economic and monetary union.This paper describes four features of the German economy which lie at...