Budget for the Eurozone: Germany’s Approach Gains the Upper Hand
Budget for the Eurozone: Germany’s Approach Gains the Upper Hand

Author(s): Sebastian Płóciennik
Subject(s): Supranational / Global Economy, Governance, Economic policy, Fiscal Politics / Budgeting
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: Germany; European Union; Eurozone; budget; fiscal policy; monetary union; crisis prevention;
Summary/Abstract: The decisions of the December summit of eurozone countries to set up a budget for the monetary union are in line with Germany’s expectations. The new financial pool is indeed deepening integration, but its small size and lack of autonomous character do not violate their economic interests and the existing EU integration structure. The outcome is also acceptable to EU Member States outside the euro area because it lowers the risk of differentiated integration.

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