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The Euro Area Crisis in Constitutional Perspective$
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Alicia Hinarejos

Print publication date: 2015

Print ISBN-13: 9780198714958

Published to Oxford Scholarship Online: August 2015

DOI: 10.1093/acprof:oso/9780198714958.001.0001

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The Mechanics of EMU Integration: Instruments and Competence

The Mechanics of EMU Integration: Instruments and Competence

(p.65) 5 The Mechanics of EMU Integration: Instruments and Competence
The Euro Area Crisis in Constitutional Perspective

Alicia Hinarejos

Oxford University Press

The euro area crisis has affected the way in which fiscal and economic integration is pursued within EMU. The previous chapter showed that, in general, the crisis has changed the way in which EMU seeks to address certain challenges to its stability; there has been an evolution in the principles and assumptions underlying integration in this area. This chapter will now focus on more specific aspects of the mechanics of fiscal and economic integration—the choice of instruments and the boundaries of EU competence—and the effects that the crisis has had in this regard. Finally, it will also reflect on the broader effects of the crisis and its aftermath on social policy and the economic constitution.

Keywords:   fiscal integration, fiscal numerical rules, economic coordination, coordinating competence, soft law, social policy, social deficit, European economic constitution

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