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German Interests in European Monetary Integration

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  • Karl Kaltenthaler

Abstract

This article explores the sources of the German govermnent’s position on European monetary integration since the first attempt at monetary union. I argue that German policy on European monetary integration was, until after EMU, driven by German foreign policy elites’ perception that integration could be used to achieve their primary geo‐political goal, embedding Germany in European institutions to dismantle the security dilemma with its European neighbours, particularly with France. After the signing of the Maastricht Treaty, this situation was reversed, as domestic economic interests and state financial authorities have taken the lead in shaping Germany’s policy on European monetary integration, with foreign policy elites playing a secondary role. Thus German policy has come to resemble more the policies of other European monetary union member states, in that domestic economic concerns have taken precedence over geo‐political interests in the making of policy on European monetary integration.

Suggested Citation

  • Karl Kaltenthaler, 2002. "German Interests in European Monetary Integration," Journal of Common Market Studies, Wiley Blackwell, vol. 40(1), pages 69-87, March.
  • Handle: RePEc:bla:jcmkts:v:40:y:2002:i:1:p:69-87
    DOI: 10.1111/1468-5965.00344
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    Cited by:

    1. Schäfer, David, 2016. "A banking union of ideas? The impact of ordoliberalism and the vicious circle on the EU banking union," LSE Research Online Documents on Economics 65875, London School of Economics and Political Science, LSE Library.
    2. Femke Esch & Eelke Jong, 2013. "Institutionalisation without internalisation. The cultural dimension of French-German conflicts on European Central Bank independence," International Economics and Economic Policy, Springer, vol. 10(4), pages 631-648, December.
    3. David Schäfer, 2016. "A Banking Union of Ideas? The Impact of Ordoliberalism and the Vicious Circle on the EU Banking Union," Journal of Common Market Studies, Wiley Blackwell, vol. 54(4), pages 961-980, July.
    4. Simona Hašková & Marek Vochozka, 2018. "Duality in Cyclical Trends in European Union Confirmed," SAGE Open, , vol. 8(1), pages 21582440177, January.

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