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Providing political leadership? : three case studies on Germany's ambiguous role in the eurozone crisis
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1350-1763; 1466-4429
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Journal of European public policy, 2017, Vol. 24, No. 1, pp. 1-20
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SCHOELLER, Magnus G., Providing political leadership? : three case studies on Germany’s ambiguous role in the eurozone crisis, Journal of European public policy, 2017, Vol. 24, No. 1, pp. 1-20 - https://hdl.handle.net/1814/40584
Abstract
Throughout the eurozone crisis, observers called upon Germany to assume leadership. Yet, Germany has not emerged as the hoped-for leader. According to the issue at stake, we observe three different outcomes: firstly, Germany refused to lead; secondly, Germany assumed leadership, but failed to deliver; thirdly, Germany acted as a successful leader. This article examines the reasons for this variance by analysing and comparing one case for each outcome: the first financial assistance to Greece; the failed attempt to establish a ‘super-commissioner'; and the shaping of the Fiscal Compact. The analysis includes original data, gathered through interviews in Brussels, Frankfurt and Berlin. The variance in Germany's behaviour can be explained by employing a rational institutionalist model of leadership. Germany's emergence as a leader depends on the expected costs and benefits of leading. Its impact, in contrast, depends on its power, the distribution of preferences among the actors involved and institutional constraints.
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Published online: 29 Mar 2016