Which ways and means are available for the macroeconomic and fiscal coordination and/or integration within the EMU-framework? Which are the pros and cons of these scenarios? This paper combines economic theory, empirical analysis and insights regarding EMU’s institutional history in order to...

This Open Access book offers a novel view on the benefits of a lasting variation between the member states in the EU. In order to bring together thirty very different European states and their citizens, the EU will have to offer more scope for variation. Unlike the existing differentiation by...

The outcome of the 2003 compliance crisis showed once and for all that the nature of the stability and growth pact (SGP) is highly political. While the existing literature often presents the content of EMU and SGP as an unqualified triumph for the German financial elite, the available primary...