Political Leadership of the European Central Bank

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dc.contributor.authorVerdun, Amy
dc.date.accessioned2018-08-02T17:45:51Z
dc.date.available2018-08-02T17:45:51Z
dc.date.copyright2017en_US
dc.date.issued2017
dc.description.abstractWhat role did the European Central Bank (ECB) play in EU governance, regarding the financial, the economic and sovereign debt crises? How should we understand ECB leadership from a theoretical perspective? Based on speeches, literature review and interviews, this contribution concludes that by using policies such as the Securities Market Programme and by promising to do whatever it takes (e.g. Outright Monetary Transactions the ECB supported the euro-area faced with an unprecedented crisis. Its two presidents during the crisis periods were leaders in that they managed to get the ECB followers (its Governing Council; EU member states) willing to take part in a common enterprise solving the sovereign debt crisis with the bank using exceptional monetary policy tools. This contribution argues that both Presidents Jean-Claude Trichet and Mario Draghi exercised transformative leadership and were willing to take action when no other leaders were willing or able to lead.en_US
dc.description.reviewstatusRevieweden_US
dc.description.scholarlevelFacultyen_US
dc.description.sponsorshipThis work was funded by European Commission Erasmus+ programme - Jean Monnet 'Policy debate with academic world' [565351-EPP-1-2015-1-CA-EPPJMO-PROJECT].en_US
dc.identifier.citationVerdun, A. (2017). Political leadership of the European Central Bank. Journal of European Integration, 39(2), 207-221. https://doi.org/10.1080/07036337.2016.1277715en_US
dc.identifier.urihttps://doi.org/10.1080/07036337.2016.1277715
dc.identifier.urihttp://hdl.handle.net/1828/9815
dc.language.isoenen_US
dc.publisherJournal of European Integrationen_US
dc.subjectMario Draghien_US
dc.subjectEconomic and Monetary Unionen_US
dc.subjecteuro areaen_US
dc.subjectEuropean Central Banken_US
dc.subjectpolitical leadershipen_US
dc.subjectJean-Claude Tricheten_US
dc.titlePolitical Leadership of the European Central Banken_US
dc.typeArticleen_US

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