Skip to Main content Skip to Navigation
New interface
Theses

Une institution politique à l'épreuve de la crise : la Banque Centrale Européenne dans l'Union Economique et Monétaire (août 2007 - janvier 2012)

Abstract : How did the European Central Bank (ECB) extended its influence and its competences within the Economic and Monetary Union (EMU) during the eurozone crisis? The answer of this question lies in the analysis of the ECB's political strategy based on a paradoxical two-fold movement aiming at protecting its original reputation while extending its competences. Indeed, the financial crisis is both an opportunity and a risk for the ECB since its ressources ( its monopoly on liquidity, the acknowledgment of its expertise on financial markets and its moral authority ) have more impact than usual, but, at the same time, the Bank is forced to implement monetary policies deviating from both ordo-liberal ideas and the Bundesbank's model on which its reputation was built. The study of the mechanisms of the delegation process involving the ECB and the eurozone member states allows then to prove the success of this two-fold movement and to explore the redefinition of the ECB role within the UEM during the financial crisis. These elements are analyzed through three case studies including the implementation of monetary policies instruments, the EMU crisis-solving processes and the creation of the European Systemic Risk Board. The methodological approach focuses on the study of relations between the ECB and the other EMU actors, thanks to thirty semi-directed high officials' interviews and a analysis of primary and secondary sources.
Document type :
Theses
Complete list of metadata

https://tel.archives-ouvertes.fr/tel-00926443
Contributor : ABES STAR :  Contact
Submitted on : Thursday, January 9, 2014 - 3:42:09 PM
Last modification on : Friday, November 4, 2022 - 3:59:36 AM
Long-term archiving on: : Thursday, April 10, 2014 - 11:15:11 AM

File

29897_FONTAN_2012_archivage.pd...
Version validated by the jury (STAR)

Identifiers

  • HAL Id : tel-00926443, version 1

Collections

Citation

Clément Fontan. Une institution politique à l'épreuve de la crise : la Banque Centrale Européenne dans l'Union Economique et Monétaire (août 2007 - janvier 2012). Science politique. Université de Grenoble, 2012. Français. ⟨NNT : 2012GRENH015⟩. ⟨tel-00926443⟩

Share

Metrics

Record views

767

Files downloads

2843