The Impact of EMU on Member State Sovereignty

21 Pages Posted: 26 Jan 2011 Last revised: 9 Feb 2011

See all articles by Rhys Bollen

Rhys Bollen

Monash University - Faculty of Law

Date Written: April 25, 2004

Abstract

It is generally accepted that European Economic and Monetary Union (EMU) involved a transfer of some sovereignty from Member States to the central organs of the European Union (EU). The various aspects of EMU and of sovereignty are considered in detail in this paper.

EMU can be considered both as an aspect of the European Community’s continued progress towards a common market as well as a stand-alone integration project. EMU encompasses the single currency, common monetary policy, establishment of the European Central Bank (ECB) and the implementation of a single payment area Europe-wide.

This paper examines to what extent the implementation of each of the three elements of EMU have involved the transfer of sovereignty. It does this in particular by comparing the experience of the United Kingdom and Germany.

Suggested Citation

Bollen, Rhys A., The Impact of EMU on Member State Sovereignty (April 25, 2004). Available at SSRN: https://ssrn.com/abstract=1747686 or http://dx.doi.org/10.2139/ssrn.1747686

Rhys A. Bollen (Contact Author)

Monash University - Faculty of Law ( email )

Wellington Road
Clayton, Victoria 3800
Australia

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