1. European Economic Governance Structures Post Crisis
Brigid Laffan
Director
Robert Schuman Centre for Advanced Studies

2. Crises are “open moments”-system changing and system creating
CRISIS

3. Legitimacy
Input
Social
Output
Formal
WEAK
EU Legitimacy

4. Accountability
Political
Legal
Audit

5. Europe’s Compound Polity
Pooled Sovereignty-Divided Accountability
Horizontal and Vertical Accountability
EU- A Marbled Cake Polity

6. One of the guiding principles is that democratic control
Creating a Genuine EMU
One of the guiding principles is that democratic control
and accountability should occur at the level at which the decisions are taken. The implementation of
this guiding principle is key to ensuring the effectiveness of the integrated financial, budgetary and
economic policy frameworks.

7. ‘’We need more binding and more ambitious rules and commitments for the Euro area Member States. They should reflect that sharing a single currency means sharing responsibility for the Euro area as a hole. They should pave the way for a new quality of cooperation and integration within the Euro area (Letter from Chancellor Merkel and President Sarkozy to Herman Van Rompuy, 7th December

8. Crisis Responses Crisis Management
Bailouts (4 member states + Spanish banks)/Troika
Politics of austerity and retrenchment
ECB non-standard measures
Crisis Prevention
Task Force reported in Autumn 2010
Euro+ Pact
Six Pack Legislation
Two Pack
Fiscal Compact
European Semester
Banking Union

10. National Finance Ministries
Ex ante guidance
European Semester
Vertical
National Finance Ministries
+ Governments
Calendar Approach
Horizontal
Commission (home work re. aggregate, individual member states, surveillance)
Council-CSR

11. Parliaments EP Six Pack and Semester
Introduction of the "economic dialogue". It established the right of EP committees to invite the President of the Council, of the Commission and of the European Council to appear before the committee and discuss coordination and surveillance measures.
Article 13 TSCG provides for the EP and of national parliaments to "discuss" policies and other issues covered by the TSCG.
National Parliaments
When and how to engage?

12. Political Accountability
Democratic politics-incumbents and traditional parties under pressure
Challenger parties +Electoral Volatility
Eurozone- a low trust regime
The Politics of Constrained Choice

15. Need for Balance Fiscal Consolidation Structural Reform
Growth and Employment
Flexibility
Politicisation