Anna Sophie Elektra Zech
GEM-DIAMOND doctoral fellow
ESR 2 – The capitalism-democracy nexus and struggles over European governance
Fascinated by the political economy of monetary policy, I am curious to research the ECB's engagement with public discourse across Eurozone member states. #textasdata
Central Bank Independence and Eurozone Governance: How does the ECB interact with member state publics?
- Antoine Vauchez
- Amandine Crespy
While the government-central bank nexus has been analysed extensively in this regard, growing politicisation following the sovereign debt crisis warrants attention being drawn to the ECB’s interaction with respective member state publics. This project seeks to better understand to what extent and with whom the ECB engages strategically in this realm as it seeks to justify innovation in light of diverse national veto points.
To this end, the project seeks to assess media framing via quantitative text analysis and conduct interviews to analyse interactions with expert bodies such as NCBs that play a significant role in broader national political discourse. Discourse has long played a fundamental role in monetary policy, notably in the case of the ECB given its vague mandate, and is a reliable data source as “talk is not cheap”. To reflect the dynamic interaction of public narratives and institutional evolution, the methodological framework of discursive institutionalism is adopted (Schmidt, 2008). Four country cases are selected in line with a most-different case research design: France and Germany, as the leaders of competing camps at the inception of the ECB, and Italy and Austria, as the leaders of the currently competing camps of “debtor” and “creditor” states.
The findings of this project can shed new light on the state of eurozone governance and contributes to a broader literature on “emergency politics” that often feature prominent intervention by technocratic and/or executive actors (White, 2015).
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Anna holds an MA (Hons) in Business/Management and Italian from the University of Glasgow, a Graduate Diploma in International Relations from the University of London, an MA in European Affairs with a specialisation in Economics and Public Policy from Sciences Po Paris and an MSc in Political Economy of Europe from the London School of Economics and Political Science.