Chapter

The French State in the Euro‐Zone: ‘Modernization’ and Legitimizing Dirigisme

David Howarth

in European States and the Euro

Published in print March 2002 | ISBN: 9780199250257
Published online November 2003 | e-ISBN: 9780191599101 | DOI: http://dx.doi.org/10.1093/0199250251.003.0007
 The French State in the Euro‐Zone: ‘Modernization’ and Legitimizing Dirigisme

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Examines the contribution of EMU to the Europeanization of the French state, and falls into two parts. First, it examines the discursive and ideological structure underpinning and shaping the impact of EMU on French state structures, policy regimes and policies. This discursive structure is shaped principally by a conservative liberalism—in the ascendant, given the economic constraints reinforced by monetary integration—and a rearguard interventionism. Second, substantive state reforms and the strategic behaviour of French policy‐makers in the Euro‐zone reflect the dialectic between these two ideologies. This dialectic and the substantive reforms have contributed to reshaping French state identity. The French decision to embrace EMU should also be seen in terms of French strategy to increase monetary policy‐making power in relation to both the Germans and the Americans.

Keywords: EMU; France; monetary policy

Chapter.  11601 words. 

Subjects: European Union

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