Evaluating the New Rules of EU Economic Governance in Times of Crisis

Abstract

The article seeks to form a political evaluation of the new rules of EU Economic Governance that have entered into force in the current economic crisis, pointing out at the same time their social impact, through the case study of Greece. The article concludes that although there have been significant steps towards tighter Economic Governance in the EU, and the eurozone in particular, actions should be taken in order to enhance the social dimension of the EMU institutional framework, so that austerity measures are accompanied by growth and coherence policies. In addition, a political debate regarding the institutional reorganisation of the Economic Governance framework should be launched, in order to enhance democracy, legitimacy and accountability in the European Union.