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The Politics of the Single Currency: Learning the Lessons of Maastricht
Author(s) -
Youngs Richard
Publication year - 1999
Publication title -
jcms: journal of common market studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.54
H-Index - 90
eISSN - 1468-5965
pISSN - 0021-9886
DOI - 10.1111/1468-5965.00164
Subject(s) - summit , single currency , politics , currency , convergence (economics) , political science , european integration , european monetary system , political economy , economics , economic policy , keynesian economics , economic growth , macroeconomics , european union , monetary policy , law , geography , physical geography
Integration theorists have increasingly called for a more comprehensive assessment of the evolving relationship between domestic politics and the process of European integration. Responding to this challenge, the article analyses the politicization of debate over EMU in the period following the Maastricht summit. It contrasts the limited engagement of domestic actors prior to 1991 with their increasingly influential reaction against convergence‐driven reforms over recent years. While acknowledging that domestic politics have consequently become integral to explaining the nature of economic and monetary integration, the article enumerates a number of ways in which their influence is still limited.