Overview

Who were key figures in the making of European monetary union? Which ideas did they contribute to ensuring that monetary union would be sustainable? How prescient were they in identifying the necessary and sufficient foundations of a sustainable monetary union? This book provides the first systematic historical examination of key architects of European monetary union in the period before its launch in 1999. Using original archival and interview research, it investigates the intellectual and career backgrounds of these architects, their networking skills, and their own doubts and reservations about the way in which monetary union was being constructed. In the light of the later Euro Area, Architects of the Euro deals critically with not just their contribution to the making of European monetary union but also their legacy. The book brings together a distinguished group of scholars working on the history of Economic and Monetary Union.

Full Product Details

Author:   Kenneth Dyson (Research Professor, School of Law and Politics, Research Professor, School of Law and Politics, Cardiff University) ,  Ivo Maes (Senior Advisor, Research Department of the National Bank of Belgium and a professor, Robert Triffin Chair, at the Université Catholique de Louvain)
Publisher:   Oxford University Press
Imprint:   Oxford University Press
Dimensions:   Width: 16.90cm , Height: 2.30cm , Length: 23.40cm
Weight:   0.622kg
ISBN:  

9780198735915

ISBN 10:   019873591
Pages:   328
Publication Date:   18 August 2016
Audience:   College/higher education ,  Professional and scholarly ,  Tertiary & Higher Education ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   To order  
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Table of Contents

Jan Smets: Foreword 1: Kenneth Dyson and Ivo Maes: Intellectuals as Policy Makers: Biography and the History of European Monetary Union 2: Ivo Maes and Eric Bussière: Robert Triffin: The Arch Monetarist in the Process of European Monetary Integration? 3: Katja Seidel: Robert Marjolin: Securing the Common Market through Economic and Monetary Union 4: David Howarth: Raymond Barre: Modernizing France through European Monetary Cooperation 5: Elena Danescu: Pierre Werner: A Visionary European and Consensus Builder 6: Piers Ludlow: Roy Jenkins and the Importance of Top-Level Politics 7: Kenneth Dyson: Hans Tietmeyer, Ethical Ordo-liberalism, and the Architecture of EMU: Getting the Fundamentals Right 8: Harold James: Karl-Otto Pöhl: The Pole Position 9: Fabio Masini: Tommaso Padoa-Schioppa: EMU as the Anchor Stone for Building a Federal Europe 10: Dermot Hodson: Jacques Delors: Vision, Revisionism, and the Design of EMU 11: Ivo Maes: Alexandre Lamfalussy: A Cassandra about Financial Stability 12: Kenneth Dyson and Ivo Maes: Contributions, Legacies, and Lessons

Reviews

Rooted in an impressive data collection effort ... Hopefully the reinsurance industry will prove stronger than the banking system; if not, we may soon be returning to Making a Market for Acts of God to help us understand what exactly went wrong. Daniel Hirschman, American Journal of Sociology

It is often claimed, perhaps particularly by its detractors, that European Economic and Monetary Union was mainly created by an elite. This book records the identity, thinking and objectives of such key protagonists. It is an important study of political economy, how ideas and structures develop, an essential part of the political and economic history of our times. I am delighted to have played a minor role in the exercise, put together by Kenneth Dyson and Ivo Maes, to deploy the best historians of political economic thought, to illuminate the process by which EMU was constructed. Charles Goodhart FBA, Emeritus Professor of Economics at the London School of Economics, and former chief economist at the Bank of England. This remarkable volume by eminent scholars will help readers to better understand what the intellectual underpinning of the euro was and where it eventually proved wanting. It shows well how unprepared the system was to deal with the recent crisis and what are the challenges to fix it. Andre Sapir, Professor of Economics at the Universite libre de Bruxelles, Belgium,and former economic advisor to the president of the European Commission. The originality of Architects of the Euro, edited by Dyson and Maes, is that it brings out the vital role played by ten senior officials and policy-oriented economists, well chosen by the editors, in starting the process towards the euro. Despite major differences in views, these architects had a shared motivation to start with what appeared at the time both economically justified and politically feasible, leaving the completion of the work-in-progress for later challenges. Niels Thygesen, Emeritus Professor of Economics, University of Copenhagen, and former member of the Delors Committee.

It is often claimed, perhaps particularly by its detractors, that European Economic and Monetary Union was mainly created by an elite. This book records the identity, thinking and objectives of such key protagonists. It is an important study of political economy, how ideas and structures develop, an essential part of the political and economic history of our times. I am delighted to have played a minor role in the exercise, put together by Kenneth Dyson and Ivo Maes, to deploy the best historians of political economic thought, to illuminate the process by which EMU was constructed. Charles Goodhart FBA, Emeritus Professor of Economics at the London School of Economics, and former chief economist at the Bank of England. This remarkable volume by eminent scholars will help readers to better understand what the intellectual underpinning of the euro was and where it eventually proved wanting. It shows well how unprepared the system was to deal with the recent crisis and what are the challenges to fix it. Andre Sapir, Professor of Economics at the Universite libre de Bruxelles, Belgium,and former economic advisor to the president of the European Commission. The originality of Architects of the Euro, edited by Dyson and Maes, is that it brings out the vital role played by ten senior officials and policy-oriented economists, well chosen by the editors, in starting the process towards the euro. Despite major differences in views, these architects had a shared motivation to start with what appeared at the time both economically justified and politically feasible, leaving the completion of the work-in-progress for later challenges. Niels Thygesen, Emeritus Professor of Economics, University of Copenhagen, and former member of the Delors Committee. In a model of historiography, Dyson and Maes assemble biographical vignettes of ten economists and economic policymakers, including Robert Triffin and Jacques Delors, who helped establish the euro,' 'demonstrates the value of sophisticated syntheses of policy analysis and intellectual history.' Andrew Moravcsik

Author Information

Kenneth Dyson is a Fellow of the British Academy, a Fellow of the Royal Historical Society, a Founding Fellow of the Learned Society of Wales, and Research Professor in European Political Studies at Cardiff University. His research interests encompass the European state, German policies and politics, comparative and international political economy, and the EU. His recent publication States, Debt, and Power: 'Saints' and 'Sinners' in European History and Integration (OUP, 2014) won the UACES Best Book Prize. Ivo Maes is Senior Advisor at the Research Department of the National Bank of Belgium and a Professor, Robert Triffin Chair, at the Université Catholique de Louvain, as well as at ICHEC Brussels Management School. In 2003, he was a member of the Committee for Institutional Reform of the West African Monetary Union. He has been a visiting professor at Duke University (USA), the Université de Paris-Sorbonne and the Università Roma Tre. He is the Chair of the Council of the European Society for the History of Economic Thought.

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