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This overview traces the history of European Monetary Union (EMU), highlighting its political and economic challenges. It explains how structural flaws, like the lack of fiscal union, contributed to the euro crisis. The chapter introduces ‘muddling through by flat politics,’ a decentralised governance style, exemplified by Merkel’s crisis management, and discusses its impact on European reforms and crisis response.

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Introduction

  • 章节

  • 发表日期：

    2025年

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  • Martin Heipertz

摘要

This overview traces the history of European Monetary Union (EMU), highlighting its political and economic challenges. It explains how structural flaws, like the lack of fiscal union, contributed to the euro crisis. The chapter introduces ‘muddling through by flat politics,’ a decentralised governance style, exemplified by Merkel’s crisis management, and discusses its impact on European reforms and crisis response.