Ruling Europe: The Politics of the Stability and Growth Pact by Martin HeipertzRuling Europe: The Politics of the Stability and Growth Pact by Martin Heipertz

Ruling Europe: The Politics of the Stability and Growth Pact

byMartin Heipertz, Amy VerdunForeword byJean-Claude Juncker

Paperback | February 3, 2011

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The Stability and Growth Pact (SGP) is central to Economic and Monetary Union (EMU) in Europe. Initiated by Germany in 1995 and adopted in 1997, it regulates the fiscal policies of European Union Member States. Following numerous violations of its deficit reference value, the Pact's Excessive Deficit Procedure was suspended in 2003. The decision to suspend was brought before the European Court of Justice in 2004 and the SGP then underwent painstaking reform in 2005. After a period of economic prosperity and falling budgetary deficits, the global economic crisis is putting the system under renewed stress. Ruling Europe presents the first comprehensive analysis of the political history of the SGP as the cornerstone of EMU. It examines the SGP through different theoretical lenses, offering a fascinating study of European integration and institutional design. One cannot understand the euro without first understanding the SGP.
Title:Ruling Europe: The Politics of the Stability and Growth PactFormat:PaperbackDimensions:334 pages, 9.02 × 5.98 × 0.75 inPublished:February 3, 2011Publisher:Cambridge University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0521283302

ISBN - 13:9780521283304


Table of Contents

Foreword Jean-Claude Juncke; 1. The politics of the Stability and Growth Pact; Part I: 2. States, intergovernmentalism and negotiating the SGP; 3. Opening the box: a domestic politics approach to the SGP; 4. The functional logic behind the SGP; 5. The role of experts and ideas; Part II: 6. Implementation of the SGP in good and in bad times; 7. From bad times to crisis; 8. The SGP before the European Court of Justice; 9. The SGP in times of financial turbulence and economic crisis; 10. Conclusion: the past, present and future of the SGP and implications for European integration theory; Appendix.

Editorial Reviews

"A fascinating and critical account of the interplay of the different forces that shaped the Stability and Growth Pact and its implementation. This book explains how politics never forget the national interest when building Europe, the importance of the economic calculus by experts as well as the intricacies of the European bureaucracy... a fresh look at the Stability and Growth Pact." Filip Keereman, Head of Unit Monitoring of National Financial Developments and External Funding, European Commission