Differentiated Integration in EMU: Investigating and Explaining Its Evolution in Two Crises

Abstract

Differentiation has been a consequential asset of Economic and Monetary Union (EMU) right from its beginning. This panel gathers papers that study the evolution of differentiated integration (DI) in EMU in the context of the sovereign debt crisis (SDC) and the Covid-19 related economic crisis. Explaining the continuous reinforcement of differentiation in EMU, scholars have advanced a neofunctionalist path dependency argument. Differentiation led to a divergence between members and non-members of the Euro Area regarding interdependency putting these two groups of EU member states on two different integration paths. Studies in this panel investigate differentiation in the Six and Two Pack to further test and refine our understanding of the path dependency of DI during the SDC. Furthermore, authors assess the relevance of the explanatory argument to the Covid-19 related economic crisis. They analyse the evolution of fiscal burden-sharing mechanisms during the negotiations on the New Generation EU Fund to understand better the causal mechanisms triggering differentiated or uniform integration. Furthermore, papers investigate banking supervision policies of the European Central Bank from a neofunctionalist perspective. Finally, contributions study cases of DI in EMU to explain the rise of de-facto differentiation in its various forms.

Title	Details
From Differentiation to uniformity? Fiscal burden-sharing during the Eurozone and the Covid-crisis	View Paper Details
De-facto differentiation in Economic and Monetary Union: A Rationalist Explanation	View Paper Details
Differentiation and the European Semester – an examination of country specific recommendations	View Paper Details
A matter of perception? How elite crisis perception shaped the evolution of differentiated integration in EMU during the sovereign debt and the Covid-19 crisis	View Paper Details
This Time Is Different? Inflationary Pressures, Germany’s Eurozone Trilemma, and the Consequences for the Economic and Monetary Union	View Paper Details