EMU till varje pris?
Spårbundenhet i beslutsfattandet angående EMU
In 2002, the euro as a common currency did replace the national currencies in the EU member-states that did choose to take part in the EMU. It was then viewed as one of the greatest accomplishments ever to be made by the EU. However, during the latest years, the economic situation has deteriorated in several EMU member-states. This affected the whole euro-area and the current situation is referred upon as the euro-crisis. In 2011, at the time of the euro-crisis, the Heads of State or Government of the euro-area did reaffirm their full commitment to strengthen EMU. This essay seeks to answer why the EMU is maintained despite severe economical difficulties. The purpose of this essay is to reveal that path dependence is seen in the EU decision-making about the EMU. To fulfill the purpose the method used is process-tracing. To study the EU decision-making this essay applies the theoretical framework provided by Allison and Zelikow. This theoretical framework studies decision-making from three different vantage points. The findings of this essay reveal that in each vantage point an institution can be found that shape behavior and results in path dependence.