Jump to ContentJump to Main Navigation
A Contemporary Concept of Monetary Sovereignty$
Users without a subscription are not able to see the full content.

Claus D. Zimmermann

Print publication date: 2013

Print ISBN-13: 9780199680740

Published to Oxford Scholarship Online: January 2014

DOI: 10.1093/acprof:oso/9780199680740.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 12 December 2019

The Increasing Regionalization of Monetary Sovereignty

The Increasing Regionalization of Monetary Sovereignty

Chapter:
(p.143) 4 The Increasing Regionalization of Monetary Sovereignty
Source:
A Contemporary Concept of Monetary Sovereignty
Author(s):

Claus D. Zimmerman

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199680740.003.0005

This chapter examines a phenomenon which it seems appropriate to refer to as the increasing regionalization of monetary sovereignty, ie the joint exercise of monetary sovereignty in a monetary union under the special form of cooperative sovereignty. Since the onset of economic globalization in the 1960s, a large number of states around the world have sought increasingly strong economic integration and have embarked on paths towards creating monetary unions, eventually adopting a common currency, and thereby renouncing their right to conduct independent monetary policies. After considering the economic rationale and key legal characteristics of the increasing regionalization of monetary sovereignty around the globe, this chapter looks into the adaptation of the European Union’s legal framework to the increasing impact of domestic economic and fiscal policies on regional economic stability and analyses several overarching legal and conceptual challenges exposed by the ongoing European sovereign debt crisis.

Keywords:   Regionalization of monetary sovereignty, cooperative sovereignty, economic integration, monetary policy, monetary union, common currency, European sovereign debt crisis, fiscal policies, regional economic stability

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 .