National culture trumps EU socialization: the European central bankers’ views of the euro crisis

Abstract

The European Union (EU) response to the euro crisis brought new relevance to the debate on socialization through European institutions. While previous studies differ in their support for EU socialization, many have argued that the euro crisis revealed a far-reaching convergence of views among Europe's leaders. Theoretically, the European Central Bank (ECB) in particular is expected to have the power to socialize its governors into a common worldview. The present article questions this proposition. Using the technique of cognitive mapping to provide an in-depth analysis of the views of five members of the ECB Governing Board, we find that even for ECB governors national culture generally trumps EU socialization. Only for ECB President Trichet significant evidence of EU socialization is found. The study also points to some new scope-conditions for socialization that may further our understanding of how European institutions may foster the sustainable socialization of views.