Abstract:

This chapter argues that the notions of monetary integration, crises, and solidarity are key issues of European integration. It explains how international payments for trade became a major concern for policymakers in Europe’s war-torn economies after the Second World War. Monetary-financial integration was fuelled by the single currency, which then resulted in a boom-bust cycle of international systemic proportions. The chapter then examines the euro and euro area crisis while considering why and how monetary integration advanced or failed to move forward. It looks into different models of capitalism in the euro area before detailing several neoliberal ideas underpinning the euro area.

To cite this article:

SCHELKLE, Waltraud, Monetary integration, crises and solidarity, in Manuela MOSCHELLA, Lucia QUAGLIA and Aneta SPENDZHAROVA (eds), European political economy : theoretical approaches and policy issues, Oxford : Oxford University Press, 2023, New European Union series, pp. 115-133 – https://hdl.handle.net/1814/76444

#capitalism #euro area crisis #european integration #international payments #monetary crises #monetary integration #monetary solidarity

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