Jump to ContentJump to Main Navigation
European States and the EuroEuropeanization, Variation, and Convergence$
Users without a subscription are not able to see the full content.

Kenneth Dyson

Print publication date: 2002

Print ISBN-13: 9780199250257

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199250251.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see http://www.oxfordscholarship.com/page/privacy-policy).date: 20 August 2018

Why EMU Is—or May Be—Good for European Welfare States

Why EMU Is—or May Be—Good for European Welfare States

Chapter:
(p.305) 12 Why EMU Is—or May Be—Good for European Welfare States
Source:
European States and the Euro
Author(s):

Martin Rhodes (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0199250251.003.0013

Argues that the commonly expressed fear, that EMU will contribute to the decline of welfare states in Europe, is not clearly borne out by the historical evidence, and that it may even possibly come to show positive effects in contributing to a new architecture for a coordinated welfare policy. The argument proceeds in four stages. First, it contests the assumption that EMU is a ‘neo‐liberal’ project inherently inconsistent with the preservation of large, re‐distributive welfare states. Second, it shows that, while there have been some corrective adjustments linked to public sector debt reduction, there has been no ‘downward convergence’ in welfare spending. Third, it argues that the Stability and Growth Pact implies no mechanisms inherently adverse to the welfare state, and that EMU implies no weakening of the capacity of Europe's social and employment systems to cope with external shocks. Finally, it considers the experimental development of a new capacity at EU‐level to coordinate broad macroeconomic objectives with social and employment policies.

Keywords:   EMU, monetary policy, Stability and Growth Pact, welfare state

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .