The ambition of this book is to put into perspective and assess the economic policy regime of the EU. To do so, it is necessary first to consider in general terms the rationale for economic policy and the role of the EU. Yet economic policy is a vast topic in its own right, and so is the EU. The limited purpose of this chapter is therefore only to pave the way for what follows by considering certain elements of answers to the two broad questions: (1) what is (the basis of) economic policy? and (2) what is (the essence of) the EU?
KeywordsMember State Public Good Market Failure Common Interest European Central Bank
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