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Über dieses Buch

Leadership of powerful states and organizations is crucial for the success of regional integration projects. This book offers a theoretical model explaining such leadership. By applying the model to eurozone governance and reform, the book combines innovative theorizing on leadership in regional and international affairs with original research on Economic and Monetary Union politics. Six in-depth case studies analyze the (non-)leadership of Germany and EU institutions in eurozone crisis management. Moreover, the book evaluates the eurozone’s leadership record since the outbreak of its crisis and helps readers understand the leadership of collective actors, and the extent to which they can contribute to overcoming crisis and fostering European integration. In particular, the book investigates the under-researched questions of who provided leadership in the eurozone crisis and why, and which conditions are required to achieve successful leadership in the EU.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Introduction: Explaining Leadership in the Eurozone

Abstract
Leadership of powerful states and organizations is crucial for the success of regional integration projects. Yet, collective actors do not always provide leadership: they may not even emerge as leaders or simply fail to influence the outcomes of regional integration. The Economic and Monetary Union is a case in point. Since the outbreak of the eurozone crisis, neither Germany nor any of the supranational institutions assumed a permanent leadership role. This raises questions of why and how collective actors emerge as political leaders, and, once in charge, how they influence policy or institutional change. What are the conditions for successful leadership? Next to the gap in literature and the empirical puzzle, this chapter presents the argument, evidence, method, and structure of the book.
Magnus G. Schoeller

Chapter 2. Conceptualizing Leadership: What It Is and Why It Matters

Abstract
Drawing on the state of the art in leadership research, this chapter elaborates a conceptualization of political leadership. In doing so, the chapter clarifies crucial questions that emerge from the literature: How does leadership differ from sheer power? Are leaders necessarily successful? How can we conceptualize the many different types of leadership? Based on existing literature, the chapter identifies the basic “ingredients” of leadership (power, common goal, strategies) as well as the parameters of its success. Moreover, the chapter distinguishes two crucial conceptions of leadership, and it concludes by presenting a definition.
Magnus G. Schoeller

Chapter 3. Theorizing Leadership: Emergence and Impact

Abstract
This chapter elaborates a model of leadership that combines rational-choice institutionalism with leadership theorizing. If there is a collective action problem and a lack of institutions, there will be a demand for leadership. A leader emerges if the demand meets the supply of leadership. While the demand for leadership arises from the costs a group suffers if the status quo without a leader continues, the supply depends on the individual benefits for the leadership candidate (“leadership surplus”). Once emerged, the impact of leadership depends on the interplay of the leader’s power resources, the followers’ preferences, and the institutional constraint of decision-making. Finally, the chapter explains how the theoretical propositions are operationalized and what data is used to test them.
Magnus G. Schoeller

Chapter 4. Analysing Leadership I: Germany in the Eurozone Crisis

Abstract
When the Economic and Monetary Union found itself in crisis, the actor mostly called on to assume leadership was Germany. This chapter provides three case studies on Germany’s role in the first bailout of Greece, the proposal of a “super-commissioner”, and the genesis of the Fiscal Compact. The analysis not only probes the plausibility of the book’s theoretical model, but also provides a theory-guided and generalizable explanation of Germany’s ambiguous leadership record in the eurozone. The chapter submits that Germany’s (non-)leadership is driven primarily by its material interest in shifting the adjustment costs of the crisis to the national level and thus to the “debtor states”. Whether Germany succeeds in doing so depends on the preferences of other eurozone actors and the respective institutional constraint.
Magnus G. Schoeller

Chapter 5. Analysing Leadership II: The EU Institutions in the Eurozone Crisis

Abstract
This chapter provides three case studies analysing the role of EU institutions in crisis management. The first case study examines how and why the European Commission did not emerge as a leader in handling the controversial issue of Eurobonds. The second case study sheds light on the role of the European Parliament by analysing how it emerged, but ultimately failed as a leader in promoting Eurobonds. The third case study focuses on the European Central Bank’s successful leadership in announcing Outright Monetary Transactions. It explains why the ECB emerged as a “leader by default” and which strategies it used to make the announcement a success. The case studies draw on interviews with officials working at the EU institutions in Brussels and the European Central Bank.
Magnus G. Schoeller

Chapter 6. Evaluating Leadership: The Hard Case of the Eurozone

Abstract
The first section in this chapter presents the comparative results of the analysis. It demonstrates that actors supplied leadership only if they expected individual benefits from doing so. The interplay of power resources, preference distribution, and institutional constraint accounts for the impact of leadership. The second section in this chapter argues that member states or institutions only in rare cases provided leadership. Powerful actors such as Germany or the European Central Bank often lack the incentives to provide leadership, whereas those motivated to take the lead, such as the “debtor states” or the European Parliament, lack the necessary resources. The limited impact of leadership can be explained by diverging preferences and high institutional hurdles for reform. Finally, the model predicts a pessimistic scenario regarding future emergence of leadership in EMU.
Magnus G. Schoeller

Chapter 7. Conclusions

Abstract
This chapter concludes by answering the book’s research questions and summarizing its main argument. Moreover, it points to promising avenues for future research and reflects on the broader theoretical and empirical implications of the book.
Magnus G. Schoeller

Backmatter

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