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The Legal and Political Accountability Structure of ‘Post‐Crisis’ EU Economic Governance
Author(s) -
Dawson Mark
Publication year - 2015
Publication title -
jcms: journal of common market studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.54
H-Index - 90
eISSN - 1468-5965
pISSN - 0021-9886
DOI - 10.1111/jcms.12248
Subject(s) - accountability , normative , politics , corporate governance , economic governance , political science , convergence (economics) , political economy , financial crisis , law and economics , economic system , economics , public administration , economic policy , law , economic growth , macroeconomics , finance
How should decision‐making under EU economic governance be understood following the euro‐crisis? This article argues, contra existing depictions, that the post‐crisis EU has increasingly adopted methods of decision‐making in the economic field which marry the decision‐making structure of inter‐governmentalism with the supervisory and implementation framework of the Community Method. While this ‘post‐crisis’ method has arisen for clear reasons – to achieve economic convergence between eurozone states in an environment where previous models of decision‐making were unsuitable or unwanted – it also carries important normative implications. Post‐crisis governance departs from the mechanisms of legal and political accountability present in previous forms of EU decision‐making without substituting new models of accountability in their place. Providing appropriate channels of political and legal control in the EU's ‘new’ economic governance should be seen as a crucial task for the coming decade.