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The Road To MaastrichtNegotiating Economic and Monetary Union$
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Kenneth Dyson and Kevin Featherstone

Print publication date: 1999

Print ISBN-13: 9780198296386

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/019829638X.001.0001

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Making Sense of the EMU Negotiations

Making Sense of the EMU Negotiations

(p.12) 1 Making Sense of the EMU Negotiations
The Road To Maastricht

Kenneth Dyson (Contributor Webpage)

Kevin Featherstone (Contributor Webpage)

Oxford University Press

The EMU negotiations are identified as a ‘core executive’ activity and analysed in terms of their structural, strategic, and cognitive dimensions. EMU was a prestructured negotiating process, shaped by a historical inheritance of received ideas about vital interests, by institutional structures and policy style, by the hegemony of German monetary ideas, by globalization and deregulation of financial markets, and by policy beliefs and knowledge. EMU negotiations were also a strategic process involving power and interests and choice amongst a range of strategic options, and were both a two‐level game and a nested game. Finally, the EMU negotiations were a cognitive process, in which beliefs, the probing and restructuring of arguments, signalling behaviour, symbolic politics, choice of institutional venues, and policy entrepreneurship played key roles.

Keywords:   Germany, globalization, institutional venues, nested games, policy beliefs, policy entrepreneurship, policy style, signalling behaviour, symbolic politics, two‐level games

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