THE EUROGROUP: REFLECTIONS ON LEGITIMACY AND ACCOUNTABILITY

  • Marin Beroš
  • Marta Božina Beroš

Abstract

The Euro area sovereign debt crisis provoked transformative effects


within the governance of the Economic and Monetary Union (EMU),


introducing new modes of policy-making as well as new stakeholders


within the governance structure, among which the Eurogroup. Although


an “informal body” that gathers high-level, national representatives in


deliberations related to wider economic matters within the Euro area, the


Eurogroup quickly established itself as a key influencer of the policy


agenda of the Economic and Financial Affairs Council (Ecofin). The


Eurogroup's prominent role within EMU policy-making has attracted


scholarly attention, with some noting that the body's role in decisionmaking


is “under-theorised” (Craig 2017, p. 234), which in turn raises


important concerns in regards of the Eurogroup's accountability and


legitimacy. Against this background the paper examines the Eurogroup's


legitimacy and (political) accountability, by outlining (or mapping)


theoretical and legal basis thereof, especially in the perspective of EMU's


growing democratic deficit.

Published
May 21, 2019
How to Cite
BEROŠ, Marin; BEROŠ, Marta Božina. THE EUROGROUP: REFLECTIONS ON LEGITIMACY AND ACCOUNTABILITY. Proceedings of the International Scientific Conference "Social Changes in the Global World", [S.l.], v. 2, n. 5, p. 731-745, may 2019. Available at: <http://js.ugd.edu.mk/index.php/scgw/article/view/2963>. Date accessed: 27 june 2019.