Germany and the Stability of Europe's Economic and Monetary Union

To what extent has German EU policy contributed to stabilizing the euro? In their policy paper Henrik Enderlein, Katharina Gnath and Jörg Haas show how Germany’s concept of a “stability community” has shaped the common currency. They argue that the idea, although narrowly defined in the beginning, has broadened over time. They also highlight areas where the monetary union is still incomplete.