What Went Wrong. The Failure of the 1993 Delors’ White Paper

Titolo Rivista HISTORY OF ECONOMIC THOUGHT AND POLICY
Autori/Curatori Fabio Masini
Anno di pubblicazione 2020 Fascicolo 2019/2
Lingua Inglese Numero pagine 16 P. 85-100 Dimensione file 225 KB
DOI 10.3280/SPE2019-002004
Il DOI è il codice a barre della proprietà intellettuale: per saperne di più clicca qui

Qui sotto puoi vedere in anteprima la prima pagina di questo articolo.

Se questo articolo ti interessa, lo puoi acquistare (e scaricare in formato pdf) seguendo le facili indicazioni per acquistare il download credit. Acquista Download Credits per scaricare questo Articolo in formato PDF

Anteprima articolo

FrancoAngeli è membro della Publishers International Linking Association, Inc (PILA)associazione indipendente e non profit per facilitare (attraverso i servizi tecnologici implementati da CrossRef.org) l’accesso degli studiosi ai contenuti digitali nelle pubblicazioni professionali e scientifiche

In the late 1980s and early 1990s a process was started that would lead to the single currency in Europe. The choice made for its governance relied on an intergovernmental monitoring over convergence, based on the strict compliance to the Maastricht criteria. The White Paper of the Delors’s Commission on Growth, Competitiveness, Employment was issued in September 1993 to face the new internal and external threats to the European economies. It provided a framework for policy-action that should accompany the building of the euro and help the European economy survive the challenges of globalization, sustainability and new ICTs. The paper aims to examine the White Paper of 1993, and to analyse the reasons why it was neglected and eventually set aside by the member States, thus weakening the long-term prospects of the European economy and the sustainability of the forthcoming European single currency.

Keywords:Delors, European integration, unemployment, monetary union, fiscal stimulus

Jel codes:B31, E02, F15, H79

  1. Bénassy-Quéré A. et al. (2018). Reconciling risk sharing with market discipline: A constructive approach to euro area reform, CEPR Policy Insight, 91.
  2. Brunnermeier M.K., James H. and J.P. Landau (2016). The Euro and the Battle of Ideas, Princeton and Oxford, Princeton University Press.
  3. Burgess M. (2000). Federalism and European Union: the Building of Europe, 1950-2000, London and New York, Routledge.
  4. Butler D. (1993). Delors white paper puts research firmly on Europe’s political map, Nature, 366, Dec. 16: 599.
  5. Caporaso J.A. and S. Tarrow (2009). Polanyi in Brussels: Supranational Institutions and the Transnational Embedding of Markets, International Organization, 63(4): 593-620.
  6. Danescu E. (2016). Pierre Werner: A Visionary European and Consensus Builder, in Dyson K. and I. Maes (eds), Architects of the Euro. Intellectuals in the Making of European Monetary Union, Oxford, Oxford University Press: 93-116.
  7. De Grauwe P. (2011). The Governance of a Fragile Eurozone, CEPS Working Document, 346, May.
  8. Delors J. (1989). Report on Economic and Monetary Union in the European Community, ISBN 92-826-0655-4
  9. Delors J. (1992). Le Nouveau Concert Européen, Paris, Éditions Odile Jacob.
  10. Delors J. (1993a). Discours devant le Parlément européen à l’occasion du débat d’investiture de la nouvelle Commission, Feb. 10, Commission of the European Communities, Bulletin, Supplement 1/93.
  11. Delors J. (1993b). Growth, Competitiveness, Employment. The Challenges and Ways forward into the 21st Century. White Paper, (Vol. I: Parts A and B, Vol. II: Part C), Commission of the European Communities, Luxembourg.
  12. Delors J. (2011). Serve il rigore ma anche la crescita, la Repubblica, Nov. 24.
  13. Delors J. and Clisthène (1988). La France par l’Europe, Paris, Bernard Grasset.
  14. Dornbusch R. (1996). Euro Fantasies: Common Currency as Panacea, Foreign Affairs, 75(5): 110-124.
  15. Drake H. (2000). Jacques Delors: Perspectives on a European Leader, London, Routledge.
  16. Dyson K. and I. Maes (eds)(2016). Architects of the Euro. Intellectuals in the Making of European Monetary Union, Oxford, Oxford University Press.
  17. Endo K. (1999). The Presidency of the European Commission under Jacques Delors: the politics of shared leadership, London, Palgrave MacMillan.
  18. European Commission (1990). Industrial Policy in an Open and Competitive Environment (Bangemann Memorandum), Bruxelles, Working Paper, Dec. 14.
  19. European Commission (2017a). Reflection Paper on the Deepening of the Economic and Monetary Union, May 31.
  20. European Commission (2017b). Further Steps Towards Completing Europe’s Economic and Monetary Union: a Roadmap, Dec. 06.
  21. European Council (1994). Council Resolution on certain aspects for a European Union social policy: a contribution to economic and social convergence in the Union, 94/C 368/03, Dec. 6, Official Journal of the European Communities, Dec. 23
  22. Fleming D. (1994). Towards the low‐output economy: The future that the Delors White Paper tries not to face, Journal of Common Market Studies, 4(2): 11-16.
  23. Franks J., Barkbu B., Blavy R., Oman W. And H. Schoelermann (2018). Economic Convergence in the Euro Area: Coming Together or Drifting Apart?, IMF Working Paper, 18/10. Jan.
  24. Gilbert M. (2003). Surpassing Realism. The Politics of European Integration Since 1945, Lanham (MD), Rowman & Littlefield.
  25. Grieve Smith J. (1994). Review. The Delors white paper on unemployment, International Review of Applied Economics, 8(3): 341-347.
  26. Grimes S. (1994). The Green Paper on European Social Policy, Regional Studies, 28(8): 827-831.
  27. Gualtieri R., Beres P. and U. Bullmann (2017). Un fondo monetario per l’Europa, Il Sole 24 Ore, Nov. 3.
  28. Heijman W.J.M. (2006). The Need for a European Fiscal Policy, Intereconomics, March-April: 100-103.
  29. Hodson D. (2016). Jacques Delors. Vision, Revisionism, and the Design of EMU, in Dyson K.
  30. and I. Maes (eds)(2016). Architects of the Euro. Intellectuals in the Making of European Monetary Union, Oxford, Oxford University Press: 212-232.
  31. Hooghe L. (2000). Euro-Socialists or Euro-Marketeers? EU Top Officials on Capitalism, The Journal of Politics, 62(2): 430-454.
  32. James H. (2012). Making the European Monetary Union, Cambridge (Mass), Harvard University Press.
  33. Jones E. (2006). Mis-selling Europe, The World Today, 62(1): 17-19.
  34. Juncker J.C. et al. (2015). Completing Europe’s Economic and Monetary Union, European Commission.
  35. International Labour Review (1994). White Paper on Growth, Competitiveness and Employment: A fervent appeal for European cohesion, International Labour Review, 133(1): 120-126.
  36. Maes I. (2015). History of economic thought and policy-making at the European Commission, in Badinger H. and Nitsch V. (2015). Routledge Handbook of the Economics of European Integration, London, Routledge.
  37. Marjolin R. (1989). Architect of European Unit. Memoirs 1911-1986, London, Weidenfeld and Nicolson.
  38. Masini F. (2015). European Integration. Contrasting Models and Perspectives, in Fiorentini, R. and G. Montani (eds.). The European Union and Supranational Political Economy, London, Routledge: 44-64.
  39. Masini F. (2016). Tommaso Padoa-Schioppa. EMU as the Anchor Stone for Building a Federal Europe, in K. Dyson and I. Maes (eds). Architects of the Euro. Intellectuals in the Making of European Monetary Union, Oxford, Oxford University Press: 193-211.
  40. Masini F. (2018). Challenging the Euro: a View from the United States, Rivista di Studi Politici Internazionali, 85(1): 57-76.
  41. Milesi G. (1995). Jacques Delors. L’homme qui dit non, Parsi, Edition°1.
  42. Padoa-Schioppa T. (2007). ‘Pensare l’internazionalizzazione’. Inaugural Lecture of the 145th Academic Year. Milan, Politecnico of Milan, 12 November, typescript.
  43. Ross G. (1995). Jacques Delors and European Integration, Cambridge, Polity Press.
  44. Ross G. (2009). Functionalism vs Westphalia: the looking glass of employment policy, Transfer, 15(1): 93-110.
  45. Ross G. and J. Jenson (2017). Reconsidering Jacques Delors’ leadership of the European Union, Journal of European Integration, 39/2): 113-127.
  46. Sapir A. et al. (2003). An Agenda for a Growing Europe. Making the EU Economic System Deliver, July.
  47. Stiglitz J. (2016). ‘Flawed at Birth’: Why the Eurozone Faces Endless Division. Interview, Knowledge@Warton, August 24.
  48. Thygesen N. (1989). The Delors Report and European Economic and Monetary Union, International Affairs, 65(4): 637-652.
  49. Van Rumpuy H. et al. (2012). Towards a Genuine Economic and Monetary Union.
  50. Warlouzet L. (2018). Governing Europe in a Globalizing World. Neoliberalism and its Alternatives following the 1973 Oil Crisis, Abingdon and New York, Routledge.
  51. Weishaupt J.T. (2011). From the Manpower Revolution to the Activation Paradigm. Explaining Institutional Continuity and Change in an Integrating Europe, Amsterdam, Amsterdam University Press: 151-187.
  52. Delors J. (2004). Mémoires, Paris, Plon. Delors J. (2009). Interview, Paris, December 16, -- https://www.cvce.eu/en/recherche/unit-content/-/unit/02bb76df-d066-4c08-a58a-d4686a3e68ff/5673993b-5e5d-4ee3-9d12-4bd18e9fb9d6/Resources#d0701ac7-d828-4d36-bc26-a02eed0142ee_en&overlay

Fabio Masini, What Went Wrong. The Failure of the 1993 Delors’ White Paper in "HISTORY OF ECONOMIC THOUGHT AND POLICY" 2/2019, pp 85-100, DOI: 10.3280/SPE2019-002004