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European Banking Union as a Self-Fulfilling Prophecy

Alfio Cerami, (2017), “European Banking Union as a Self-Fulfilling Prophecy”, LSE, 24 OCtober

The establishment of the European Economic and Monetary Union (EMU) has represented one of the most important steps in the process of European integration. In an article published in Politics & Policy, I have argued that the EMU has not simply been the product of historical legacies, the rational choices of actors, or social construction of new economic ideas and preferences. It has also been the product of a self-fulfilling prophecy that has facilitated and accelerated the process of institutional transformation.

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