The IMF as a de facto institution of the EU: a multiple supervisor approach

• Autores: Dermot Hodson
• Localización: Review of international political economy, ISSN 0969-2290, Nº. Extra 22, 2015 (Ejemplar dedicado a: The political economy of the euro area's sovereign debt crisis), págs. 570-598
• Idioma: inglés
• Enlaces
  • Texto completo
• Dialnet Métricas: 1 Cita
• Resumen

  • This paper seeks to understand and explain the International Monetary Fund's (IMF) evolving relationship with the European Union (EU) before and after the global financial crisis of 2007�2008. Prior to this crisis, the two sides operated on parallel tracks with little scope for mutual adjustment even during the economic turmoil of the 1970s. After the global financial crisis, the IMF emerged as a de facto institution of the EU thanks to European leaders� delegation of supervisory powers to both the Fund and the European Commission. The reasons for, and consequences of, this dual delegation are explored here by means of amultiple supervisor variation on the classic principal-agent-supervisor approach.