JOURNAL ARTICLE
Cite JOURNAL ARTICLE
Style
Format
EZB-Ratsreform: Zur Frage des politischen und wirtschaftlichen Missverhältnisses
Belke, Ansgar | Polleit, Thorsten
Credit and Capital Markets – Kredit und Kapital, Vol. 36 (2003), Iss. 4 : pp. 557–571
Additional Information
Article Details
Author Details
Ansgar Belke, Stuttgart
Thorsten Polleit, Frankfurt/M.
References
-
Baldwin, R. E./Berglöf, E./Giavazzi, F./Widgren, M. (2001): Preparing the ECB for Enlargement, CEPR Policy Paper Nr. 6, London.
Google Scholar -
Belke, A. (2003): The Rotation Model Is Not Sustainable: On the Reform of the ECB Council Voting Rules, in: Intereconomics, Forum, No. 3, S. 119-129.
Google Scholar -
Belke, A./Kruwinnus, D. (2003): Die Europäische Zentralbank vor der EU-Erweiterung: Status quo, institutionelle Probleme und Reformansätze, in: Schäfer, W. (Hrsg.), Zukunftsprobleme der euro- päischen Wirtschaftsverfassung, Schriften des Vereins für Socialpolitik, Duncker und Humblot.
Google Scholar -
Berger, H. (2002): The ECB and Euro-Area Enlargement, IMF Working Paper 02/175, International Monetary Fund, Washington/DC.
Google Scholar -
Berger, H./de Haan, J. (2002): Are Small Countries too Powerful within the ECB?, in: Atlantic Economic Journal, Vol. 30, S. 1-20.
Google Scholar
Abstract
The ECB Council Voting Reform: The Question of Political and Economic Mismatch
There is a broad consensus that the enlargement of the euro area necessitates a reform of the voting modalities within the ECB Governing Council. The ECB’s own reform proposal strengthens the voting power of the Executive Board. In addition, it is intended to reduce the discrepancy between the voting share and the economic power of the EMU member countries. However, even under the status quo ante the existing divergence between the political and the economic weights is not aggravated in the wake of an euro area enlargement. Moreover, the discrepancy between GDP weights and voting shares remains huge under the reform. Hence, the principle of representativeness is still violated under the complicated new voting scheme.