Only one bed for two dreams: A critical retrospective on the debate over the economic governance of the euro area

Abstract

This article investigates why economic governance of EMU remains a matter for disagreement, revisiting in particular the Franco - German debate about the appropriate architecture. Is it due to divergent policy priorities within the same analytical framework? To different economic models? Or to non-economic considerations, such as the link with political union? © 2006 Blackwell Publishing Ltd.