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Contradictory Fiscal Governance in the European Union: Towards a Consolidation Empire?

  • Olli Herranen
Chapter
Part of the Palgrave Studies in European Political Sociology book series (PSEPS)

Abstract

The European Union (EU) is an unprecedented coalition. On the one hand, it consists of sovereign countries with individual histories, cultures, legislation, institutions and languages, with little in common with one another; but on the other hand, it might also become, as the editors of this book suggest, the first economic empire in the history of humankind. After all, historically it has been built on an economic foundation, and the idea of the union is founded on a single internal market with the free movement of people, capital, goods and services. Furthermore, the launch of the Euro was ‘the first time in history that a currency common to more than 300 million people living in seventeen different countries was created from scratch, without a unified state behind it’ (Kouvelakis 2012: xvi).

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Olli Herranen
    • 1
  1. 1.Faculty of Social SciencesUniversity of TampereTampereFinland

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