Date of Award
Bachelor of Arts (BA)
Sarah P. Lockhart, Ph.D.
The project of the European Union has successfully transformed western Europe into a powerful and stable bloc empowered by expansive economic and political integration. However, certain pathways of integration, such as the introduction of the Eurozone and the monetary consolidation it entails, have actually weakened the Union by disregarding the vast economic and cultural differences between the countries. In this thesis, I use the examples of Germany and Italy, outlining and discussing various cultural and economic differences between them to show their incompatibility with a shared currency. I will substantiate this with a discussion of monetary policy, and will dissect economic and survey data to further highlight the disparity. Subsequently, I will conclude that, as evidenced by the growing tide of anti-EU sentiment in some EU countries, the Euro should be left behind for a sovereign currency or risk the total dissolution of the union— impacting both Europe and the world.
Jordan, Matthew Rossi, "The Risk of Monetary Integration: How Italy and Germany’s Cultural and Economic Differences are Incompatible with Shared Monetary Policy and Jeopardize the Stability of the Union" (2020). Senior Theses. 38.