Amsterdam Centre for European Law and Governance

A Market without a Currency?

ACELG EU Debates Series

26Sept2013 20:00 - 22:00


After ten years of relative peace and quiet, the Monetary Union has sailed into rough waters, with panicking financial markets in the wake of the unexpectedly high Greek budget deficit and capital flight from other EU member states. The Union has made hitherto unknown interventions into national economic policies in an attempt to protect the stability of the Eurozone, raising questions of the boundaries of EU competences.

The debate

In its attempt to strengthen the 'Economic Union', the European Union has taken far-reaching measures to harmonise the economic and budgetary policies of its member states. The Central European Bank, too, resorted to previously unheard-of measures. Some of these measures were adopted outside the normal framework of European Union law, raising questions on the boundaries of the competences of the European Union contested in court cases on the EU and national level.  Closer cooperation among the members of the Monetary Union leads to tensions with the other member states.

How closely is the internal market of the 28 member states linked to the Eurozone with its 17 members? What are the consequences of a strengthened 'Economic Union'? Which visions and perspectives are there for Europe and the Eurozone?



  • Fabian Ambtenbrink, Professor European Law, Erasmus University Rotterdam
  • Lex Hoogduin, Professor Monetary Economy, University of Amsterdam
  • Aerdt Houben, Director Financial Stability, Dutch Central Bank
  • Prof. René Smits, Professor of the Law of Economic and Monetary Union, ACELG, University of Amsterdam

Spui 25

This series is organised in cooperation with Spui 25, the University of Amsterdam's gate to the city of Amsterdam.  The debates are open to the general public and held in Dutch. Please register on the website of SPUI 25.

Published by  ACELG