Free Riders, Allies, or Veto-Players? The Role of Small Creditor States in the Euro Area


This project investigates how small creditor states in the Economic and Monetary Union (EMU) – such as Austria, Estonia, or Finland – pursue their preferences in the shadow of German hegemony. Are they just free-riders or do they pursue their own agenda in the Eurozone? What strategies do they use to realize their interests, and why do they opt for some strategies instead of others?

By comparing six small creditor states, the project will, first, asses their room for manoeuvre in EMU. Second, it will generate knowledge about the preferences and behaviour of those EU member states that often remain understudied due to their size. Finally, the project will evaluate the extent to which future EMU reform will depend on the preferences of small creditor states.

Director: Gerda Falkner (Profile)
Post-doctoral researcher: Magnus Schoeller (Profile)
Funding: Austrian National Bank (Anniversary Fund, project no. 17643)


Vienna Research Sessions on European Integration
Small States in the Economic and Monetary Union:
David versus Goliath?

Date: 06.12.2018 - 07.12.2018

Institute for European Integration Research, Apostelgasse 23, 1030 Vienna