Scharpf, Fritz W. - Max-Planck-Institut für Gesellschaftsforschung, … - 2011
legitimacy. Moreover, present efforts by EMU governments to 'rescue the euro' will do little to correct the economic imbalances …The European Monetary Union (EMU) has removed crucial instruments of macroeconomic management from the control of … democratically accountable governments. Worse still, the EMU has systemically caused destabilizing macroeconomic imbalances that …