The financial crisis has transformed the relationship between the International Monetary Fund (IMF) and Europe. As the European Union (EU) and the Eurozone in particular struggle to formulate an adequate response, the IMF finds itself propelled once again to the center of crisis management and economic policy-making – after decades of no engagement in advanced European economies. At the same time, the fact that currently 40% of IMF crisis financing is flowing to EU member states raises concerns about a potential European bias and the excessive exposure of non-European members to the problems of the “old continent”, amidst a revived debate on IMF governance reform.
This workshop reviews how the relationship between the IMF and Europe has transformed over the last decade. We invite papers informed by a wide range of theoretical approaches to international political economy or EU and global governance that address questions such as: How successful was the IMF’s surveillance of the Eurozone in the run-up to the crisis? What was the impact of the IMF on the European stabilization programs and European economic governance? In what ways have IMF policies towards Europe differed from those directed at emerging markets? How has Europe’s role and standing within the IMF changed in the last decade? How does the Euro crisis alter the patterns of European coordination and influence within the IMF?