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L’euro, une monnaie incomplète : retour sur les ambiguïtés du compromis historique, politique et idéologique lors de la création de la BCE

Author

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  • Edwin Le Héron

    (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique)

Abstract

The European Central Bank is one of the major institutional innovations of the last century. For the first time, sovereign and equal countries agreed to abandon their currency to create at the level of Europe a new institution able to manage a new European currency, the euro. Like any institution, ECB and euro are essentially a project to work together. To understand this wish to work together, we will examine the history, the ambiguities of the political project, between Anglo-Saxon liberalism, Ordoliberalism and Europeanism, and the status of the euro, a key issue of economic theory. The ECB is a partial federal institution in a European Union that is not. ECB is born from a historic, political and ideological ambiguous compromise, which led to an unfinished currency, accounting for much of the difficulties in Eurozone today. We will make some proposals to improve the functioning of this institution.

Suggested Citation

  • Edwin Le Héron, 2015. "L’euro, une monnaie incomplète : retour sur les ambiguïtés du compromis historique, politique et idéologique lors de la création de la BCE," Post-Print halshs-02615087, HAL.
    • Handle: RePEc:hal:journl:halshs-02615087
    DOI: 10.4000/ei.1024
    as

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