1. Professor Brigid Laffan UCD College of Human Sciences
Market and Money
Professor Brigid Laffan
UCD College of Human Sciences

2. Major Modifications of the Rome Treaties
Process of Integration Stalls in the 1970s/1980s
Poor Economic Performance in Europe
Common problems but not solutions
Re-launch of Integration
Mitterand/France 1984

4. Reform Process Fontainebleau European Council 1984 Dooge Committee
Footnote Countries
Milan 1985
Vote 7-3
Attitude of UK, DK, Greece
Credible Threat of exclusion

5. Single European Act Key Bargains Related Issues
Single Market
Qualified Majority Voting
Economic and Social Cohesion
Related Issues
European Parliament Powers
Codification of European Political Co-operation
Court of First Instance
Treaty base for R&D/Environment
European Council mentioned

7. Power Map
Role of the European Council-heads of government acknowledged (highest office holders in the member states)
Extension of European Parliament Powers begins
More Qualified Majority Voting
Shifts in the institutional balance

8. Competencies Map Market Integration placed centre stage
Regulatory Europe Expands
Research and Development
Environment
Economic and Social Cohesion

9. Values Map Solidarity between rich and poor Europe gets a treaty basis
Sustainability-Environment
International Role of the Union

10. Consequences Formal integration in Europe is re-launched
Significance of the EU for its member states and the international system increases
Attraction for non-member states
EU becomes more ambitious
Reach of EU regulation expands

11. Success of the Single Act
Complete the Economic Constitution
From Market to Money
Delors report 1988 on the Single Currency
1989 European Revolution
German Unification
Regime and Government Change in East Central Europe
Collapse of the Soviet Union

12. Treaty on European Union-December 1991
TWO Intergovernmental Conferences
EMU (Finance Ministers and Central Bankers)
Political Union (Foreign Ministers and Heads of Government)
No neat bargain on institutional deepening and policy expansion
Complex provisions on major and minor issues

13. Treaty on European Union: The Arrival of the Pillar Structure
Community
Pillar
(EMU)
CFSP
JHA
Opt outs

14. Treaty on European Union
KEY Elements
EMU
European Central bank
Single Currency
Roadmap
Common Foreign and Security Policy
Justice and Home Affairs
Subsidiarity
Institutional Change EP
QMV
Committee of the Regions
Court of Auditors
Opt Outs

16. What the Pillars Meant Pillar One Pillars two and three
The Traditional Community method
Pillars two and three
More intergovernmental
Role of the Court, Commission and EP differs across the pillars
More Complex institutional and decision rules
Arrival of the Opt Out

17. SEA and TEU Major step change in the process of European Integration
High Level of Ambition
Impressive Institutional Change
Creeping Competence
EU becomes more salient in the economic, social and political life of Europe
Touches on key attributes of statehood/sovereignty
Danish ‘No’ June 1992

18. Key Questions?
Why was there a resurgence of European Integration from the mid-1980s onwards?
Why was there a focus on market integration?
Why did market lead to money?
What were the consequences of the resurgence/