France in the Euro-Zone: the management of paradoxical interests
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This chapter examines substantive reforms to, respectively, the French polity, politics, and policies in terms both of this domestic dialectic between conservative liberalism and interventionism and of Europeanization. EMU embodies a paradox for French policymakers. The project can be seen in terms of meeting long-standing French macroeconomic goals of achieving competitiveness through disinflation, the elimination of the German-centred EMS, and sheltering France from speculative pressures. Yet EMU also involves an institutional framework and rules that ostensibly decrease policymaking margin of manoeuvre.