Book contents
- The Crisis behind the Eurocrisis
- The Crisis behind the Eurocrisis
- Copyright page
- Dedication
- Contents
- Contributors
- Preface
- Acknowledgements
- Introduction The Elephant in the Room
- 1 There Is No (Legal) Alternative
- Part I The Crisis as a Crisis of the EU’s Identity
- Part II The Crisis as a Crisis of the EU’s Political and Democratic Legitimacy
- Part III The Crisis as a Crisis of the EU’s Economic Model
- 10 The Fiscal Compact
- 11 The Rise of Unaccountable Governance in the Eurozone
- 12 Unification from Above, Its Contradictions and the Conjuncture Initiated by the Eurozone Crisis
- Part IV The Crisis as a Crisis of the EU’s Social Character
- Part V Joining the Dots and the Way Forward
- Index
11 - The Rise of Unaccountable Governance in the Eurozone
from Part III - The Crisis as a Crisis of the EU’s Economic Model
Published online by Cambridge University Press: 07 July 2019
- The Crisis behind the Eurocrisis
- The Crisis behind the Eurocrisis
- Copyright page
- Dedication
- Contents
- Contributors
- Preface
- Acknowledgements
- Introduction The Elephant in the Room
- 1 There Is No (Legal) Alternative
- Part I The Crisis as a Crisis of the EU’s Identity
- Part II The Crisis as a Crisis of the EU’s Political and Democratic Legitimacy
- Part III The Crisis as a Crisis of the EU’s Economic Model
- 10 The Fiscal Compact
- 11 The Rise of Unaccountable Governance in the Eurozone
- 12 Unification from Above, Its Contradictions and the Conjuncture Initiated by the Eurozone Crisis
- Part IV The Crisis as a Crisis of the EU’s Social Character
- Part V Joining the Dots and the Way Forward
- Index
Summary
Since 2010 the EU has been in an ‘emergency’ situation due to the eurocrisis, where the crisis management by the EU institutions, notably the European Central Bank (ECB), and national governments has been increasingly out of step with the EU Treaties which define the scope of the mandate of the ECB and the EU’s economic policy powers as well as the conditions and limits subject to which Member States have transferred policy and lawmaking powers to the EU in accordance with their national constitutions. The ECB is independent of parliamentary control, which means that it is not accountable to national parliaments and merely has a reporting duty to the European Parliament. Exempt from democratic control the ECB is subject only to judicial review at both EU and national level. At EU level, the competent court is the Court of Justice of the EU (CJEU) which claims the right to be the sole arbiter over the interpretation of EU law.
- Type
- Chapter
- Information
- The Crisis behind the EurocrisisThe Eurocrisis as a Multidimensional Systemic Crisis of the EU, pp. 264 - 294Publisher: Cambridge University PressPrint publication year: 2019