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Behind the Veil of Budgetary Discipline: The Political Logic of the Budgetary Rules in EMU and the SGP

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  • MATHIEU SEGERS
  • FEMKE VAN ESCH

Abstract

The outcome of the 2003 compliance crisis showed once and for all that the nature of the stability and growth pact (SGP) is highly political. While the existing literature often presents the content of EMU and SGP as an unqualified triumph for the German financial elite, the available primary sources point in quite another direction.

Suggested Citation

  • Mathieu Segers & Femke Van Esch, 2007. "Behind the Veil of Budgetary Discipline: The Political Logic of the Budgetary Rules in EMU and the SGP," Journal of Common Market Studies, Wiley Blackwell, vol. 45(5), pages 1089-1109, December.
    • Handle: RePEc:bla:jcmkts:v:45:y:2007:i:5:p:1089-1109
    DOI: 10.1111/j.1468-5965.2007.00761.x
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    Cited by:

    1. 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.
    2. Ngai, Victor, 2012. "Stability and Growth Pact and Fiscal Discipline in the Eurozone," Working Papers 12-10, University of Pennsylvania, Wharton School, Weiss Center.
    3. Frank A.G. den Butter & Mathieu L.L. Segers, 2014. "Prospects for an EMU between Federalism and Nationalism," Tinbergen Institute Discussion Papers 14-008/VI, Tinbergen Institute.

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