Monetary Union, economic coordination and democratic legitimacy
Online PDF, (2011)Abstract
Since the outbreak of the financial, economic and budgetary crisis, we have been witnessing a potentially radical change in the mode of governance of the euro zone. Amid the state of emergency decreed by the financial markets, a series of innovations – institutional, political, procedural, etc. – have been implemented by the European and national political actors. In view of the urgency of the situation, the question of the democratic legitimacy of these measures has not yet been raised. And yet this question will determine their acceptability among European populations and the long-term sustainability of the answers proposed for dealing with the crisis. In strengthening the governance of the euro zone, it is therefore not possible to turn a blind eye to the democratic legitimacy of the measures selected for this purpose.