Jump to ContentJump to Main Navigation
Tangled GovernanceInternational Regime Complexity, the Troika, and the Euro Crisis$
Users without a subscription are not able to see the full content.

C. Randall Henning

Print publication date: 2017

Print ISBN-13: 9780198801801

Published to Oxford Scholarship Online: May 2017

DOI: 10.1093/oso/9780198801801.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 28 January 2021

United States and International Monetary Fund

United States and International Monetary Fund

(p.148) 8 United States and International Monetary Fund
Tangled Governance

C. Randall Henning

Oxford University Press

The United States played an active role in the response to the euro crisis and decisions on the involvement of the International Monetary Fund. U.S. policymakers supported the use of the Fund in order to assist Europe and prevent contagion across the Atlantic. But the United States conditioned its support on euro-area-wide policies to extinguish the crisis, including creating the European Financial Stability Facility and European Stability Mechanism, using the European Central Bank balance sheet fully, and committing to banking union. This chapter traces the evolution of U.S. strategy during the crisis and the conversion of officials in Washington to the cause of completing the architecture of the euro area. The IMF staff also advocated deepening the euro area, and did so more strongly than many euro-area member states. The Fund’s advocacy, which is puzzling from the standpoint of its bureaucratic interest, reflects the preferences of the United States and other non-European members.

Keywords:   United States, U.S. Treasury, Obama administration, transatlantic spillover, EFSF, ESM, G7, G20, IMF, ECB

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .