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Political Legitimacy in a Non-optimal Currency Area

On the basis of a brief reconstruction of the causes and impacts of the euro crisis, this paper explores, counterfactually and hypothetically, whether the new euro regime, insisting on fiscal austerity and supply-side reforms, could have prevented the rise of the crisis or is able to deal with... Full description

1st Person: Scharpf, Fritz W.
Type of Publication: Paper
Published: Köln Max-Planck-Institut für Gesellschaftsforschung 2013
Series: MPIfG Discussion Paper ; Vol. 13/15
Online: Full text open access
Neue Quelle: In: Olaf Cramme and Sara B. Hobolt (eds.), Democratic Politics in a European Union Under Stress. Oxford: Oxford University Press, 2015, 19–47
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