How far can we explain the Maastricht agreement on the basis of the interplay of economic interests?

Résumé du document

The European Coal and Steel Community was launched in 1951. Ever since its launch, it is an indisputable fact that the European integration has most often been depicted as a society being led by the economics. Once again, it is an undeniable fact, that these agreements have not been proposed on the basis of economic considerations. However, mobilizing economic interests allows one to account for a certain portion of the decisions to a considerable extent. If we delve into the Maastricht agreement which was signed by the Member States on the 7th of February 1992, one can infer and deduce the role played by the economy (in relation to different national or non national actors) in the agreement drafting and finalizing process. However, the plaguing questions are the extent to which, these economic factors can be used to explain the Maastricht agreement and whether, these factors can elucidate the whole story. As a guideline to answer these questions, I will be drawing an anecdotic comparison between the Maastricht agreement and a chemical reaction.

Extraits

[...] Here again, the Maastricht agreement can be explained by an appeal to economic interests. The two main concerns were the American economic competition (even if the US were experiencing a relative decline) and the Japanese rise. A shift in technology, described by Sandholtz, Wayne and John Zysman (1989) had occurred. It gave strong advantages to Japan and risked to generate dangerous effects in Europe. What is more, European currencies appeared to be more and more dependant on the yen. Europe was also experiencing, in comparison with the US and with Japan, high rates of unemployment. [...]

[...] However, Maastricht would never have occured if only for economic interests. Political and diplomatic issues acted as the enzymes that were needed to trigger the reaction leading to the agreement. Whether the Maastricht agreement clauses effectively did or did not satisfy the various economic, political or diplomatic interests and expectations is another question that would be, in a further paper, worth investigating. Bibliography - Baun, Michael, Maastricht Treaty as High Politics: Germany, France, and European Integration', Political Science Quarterly 110 1995-96 - Cameron, David, ‘Economic and Monetary Union: Underlying Imperatives and Third-Stage Dilemmas', Journal of European Public Policy - Dinan, Desmond, Ever Closer Union? [...]

[...] Indirectly (through lobbying towards the Commission and the national executives), they played a definite role in the interplay of economic interests that issued in Maastricht. All these economic considerations should almost naturally have led to an agreement among national actors weighing up costs and benefits of surrendering their alleged monetary sovereignty. But this was not the case. These economic concerns were here rather long before Maastricht effectively took place. Yet, some actors, like Germany, did not seem to be sufficiently satisfied to move on, and others did not seem to be feeling any emergency to push for decision before 1992. [...]

[...] At that point did the balance really tip into the interstate bargaining. The interests' chain released: Germany, eager to demonstrate its good faith, signified it would accept the European Monetary Union as long as this would be designed on the Bundesbank's model. Diplomatic interests were there entering the negotiating game. What's more, in return of the surrending of its money and to satisfy the very D-Mark-attached German population, Kohl demanded some political compensation (more power for the European Parliament, Cooperation in security matters). [...]

[...] Applied to the Maastricht agreement, one can go rather far on the road to Maastricht considering economic interests, but one will need some additional factors, some late to be really able to explain the final agreement-reaching. Economic interests as the fundamental reagents of the Maastricht reaction The interplay of economic interests is to be considered as an essential basis for the Maastricht agreement for three main reasons: first, the defence of national economic interests led several Member states to call for a European reform. [...]