Adopting an interdisciplinary approach, this book examines the experience of the European Union in bringing multiple sovereign nations under a common economic umbrella, and goes on to ask if the EU can serve as a blueprint for other regions that are striving for economic integration or if it is too unique to be emulated. To this end, the book draws on contemporary and historical law and politics as well as economic analyses.
Scholars from countries both in and outside of the EU provide a full stocktake of the political and economic benefits of EU membership. They critically assess monetary integration and the path it has followed in the wake of the global financial crisis. Chapters delineate key comparisons between the EU and other governance models, between EU members and non-EU members, and between euro and non-euro member States of the Union.
Students of law, economics and politics will benefit from this timely book. It should also be of interest to policymakers around the world who interact with EU countries and those who may be contemplating similar forms of economic and monetary integration in their region.
Arvustused
The elections for the European Parliament in June 2024 and the cacophony in the media that followed might incline one to scepticism about the European project. That would be a mistake, as this elegant book explains. On reflection, the European Union is a unique success story. The book explains in detail why. Can it stand as a model for similar unions elsewhere? Perhaps not directly, since the barriers to integration between different nations in Asia, in Africa, in Latin America are different from those present in Europe after the Second World War. But the Unions history, its structure, its failings and their correction, its successes, the ideals that inspired it and continue to do so deserve to be well known by those contemplating unions elsewhere. May this book succeed in its noble mission of disseminating that knowledge. -- Ejan Mackaay, Université de Montréal, Canada
Contents
1 Introduction: the European Union in global perspective
a governance model on trial 1
Kaushik Basu, Jörn Axel Kämmerer and Hans-Bernd Schäfer
2 Quantum leaps in European integration 22
Barry Eichengreen
3 Unconventional monetary policy: the pretense of knowledge 39
Leszek Balcerowicz
4 National central banks and the governance of the
European system of central banks 43
Martin Hellwig
5 Eurozone resilience and the promise of market integration 80
Wolf-Georg Ringe
6 The primacy of EU law over national law: EU law sets
aside national law 104
Vassilios Skouris
7 A positive approach to debating the supremacy of EU law 134
Nuno Garoupa
8 Who is the Master of the Treaties? On the dysfunctional
interplay between the European Court of Justice and the
European Parliament 147
Hélène Gaudin
9 The rule of law crisis in Poland and the challenge to the
principle of the primacy of EU law 159
Adam Bodnar and Jarosaw Bedowski
10 A region-level analysis of the long-term economic effects
of joining the European Union 177
Rok Spruk and Nuno Garoupa
11 Peace by supra-nationality: the driving forces of European
integration 223
Wilfried Loth
12 United in sanctions? Some observations on the EU
practice of restrictive measures in the face of the Russian
aggression against Ukraine 235
Paulina Starski
13 The hunt for unicorns: seeking goodness in Brexit 263
Ian Forrester
14 ASEAN, moving from the nation state to the ASEAN state 283
Damian Chalmers
15 Looking like a common market: the EU as a model for
Andean economic integration 304
René Urueña and Rafael Tamayo Álvarez
Edited by Jörn Axel Kämmerer, Professor of Public Law, EU Law and Public International Law, Bucerius Law School, Hamburg, Hans-Bernd Schäfer, Affiliate Professor, Bucerius Law School Hamburg, and Professor (em.) of Law and Economics, University of Hamburg, former Director, Institute of Law and Economics, Germany and Kaushik Basu, Professor of Economics and Carl Marks Professor of International Studies, Cornell University, Department of Economics and SC Johnson College of Business, Ithaca, New York, and former Chief Economist of the World Bank, Washington, D.C., US
