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Decision-Making during the Eurozone

Comparative Politics
European Politics
European Union
Political Economy
Euro
Fabio Wasserfallen
University of Zurich
Fabio Wasserfallen
University of Zurich
Stefanie Bailer
University of Basel
Jonas Tallberg
Stockholm University

Abstract

We synthesize in this paper the findings of several more recent analyses that have studied with new data the preference formation process on the national level for all major reforms in the Eurozone crisis from 2010 to 2015 as well as the bargaining dynamics on the European level. The findings show that there was little involvement of domestic political actors and public opinion in the preference formation stage, which was highly centralized in the hands of national governments. On the European level, we identify several coalitions and bargaining dynamics that help us better understand Eurozone politics and have implications for ongoing and future reform attempts.