The Financial Constitution of European Integration: Follow the Money?

This open access book delivers a much-needed analysis of the relationship between the EU's financial constitution and European integration. The economic rescue package NextGenerationEU has multiplied the EU's financial volume and thereby raised the question of the state of European integration anew. This open-access book 'follows the money' and surveys the financial constitution of European integration from the perspective of law, political economy, and history. Structured into 3 thematic parts, the book focuses on past and present developments of the fiscal structure of the EU as well as potential future outcomes. It raises an array of questions that are answered from different disciplinary perspectives and through the eyes of academia and practice: can underlying design flaws of the European Monetary Union be identified? What about the legality and the economic implications of the innovative policy-making at the EU level in response to the COVID-19 pandemic? What do these reflections on the EU financial constitution reveal about the development of European integration as a whole? The ebook editions of this book are available open access under a CC BY 4.0 licence on bloomsburycollections.com.

Introduction: 'Follow the Money!' Ruth Weber (Humboldt-Universität zu Berlin, Germany) Part 1: Design Flaws of the European Monetary Union? 1. Does The ECB Care about Inflation? Paul Tucker (Harvard Kennedy School, USA) 2. Inventing the Asymmetrical Monetary Union, Christian Neumeier (Humboldt-Universität Zu Berlin, Germany) 3. The Debate on the Revision of the European Fiscal Rules: Towards More Political Governance of the EMU? Claire Mongouachon (Aix-Marseille Université, France) 4. Covid-19, War and the End of Neoliberalism, Thomas Biebricher (Goethe-Universität Frankfurt Am Main, Germany) Part 2: Innovative Law-Making on the Edge Of Legality? 5. Follow the Money, Follow the Values, Alberto de Gregorio Merino (The Legal Service Of The Council Of The European Union, Belgium) 6. When Size Matters: On the Legality of the Recovery Instrument 'Next Generation EU' in Light of its Unprecedented Volume, Claudia Wutscher (Vienna University of Economics And Business, Austria) 7. The Solidarity Framework: Towards a New Pillar of the EMU? Francesco Martucci (Université Paris-Panthéon-Assas, France) 8. Constitutional Imaginaries of Solidarity: Framing Fiscal Integration Post-NGEU, Päivi Leino-Sandberg (University Of Helsinki, Finland) Part 3: Integration through Financial Constitution? 9. Budgeting For Success: How a Series of Budgetary Breakthroughs Underpinned the EC/EU's 1980s Boom, N Piers Ludlow (London School Of Economics And Political Science, UK) 10. The Integration Surplus of the EU's Budgetary Law - Or 'No Representation without Taxation'? Frank Schorkopf (Georg-August-Universität Göttingen, Germany) 11. Integration Through Funding: The Union's Finances as Policy Instrument, Bruno De Witte (Maastricht University, the Netherlands) 12. Investment Politics: A New Capacity to Project Union Action into the Future? Luuk Van Middelaar (Leiden University, the Netherlands) Epilogue: Money, Money, Money, Matthias Ruffert (Humboldt-Universität zu Berlin, Germany)