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German Business and EMU

In: Business and the Euro

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  • Mark E. Duckenfield

Abstract

This chapter explores the political activities that German business associations took regarding Economic and Monetary Union (EMU) between 1988 and 1998. Three factors influenced the manner in which business associations interacted with politicians on this issue. German associations preferred to concentrate their lobbying activity on particular, regulatory aspects of EMU rather than the issue in its broader context. The high level of centralisation in the German associational arena allowed Germany’s peak industrial organisation, the Bundesverband der Deutschen Industrie (BDI), to control the activities of its subordinate members and to provide a level of leadership for the business community that was absent in the United Kingdom. Finally, the unanimity not only of the governing Christian-Liberal coalition, but also the opposition Social Democratic Party (SPD), in favour of European monetary integration restricted the realm of domestic political debate that was available to German business groups and closed off many avenues for opposition to EMU.

Suggested Citation

  • Mark E. Duckenfield, 2006. "German Business and EMU," Palgrave Macmillan Books, in: Business and the Euro, chapter 2, pages 71-104, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-62724-6_3
    DOI: 10.1057/9780230627246_3
    as

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