Enhancing the Legitimacy of EMU Governance

Cinzia Alcidi (), Alessandro Giovannini and Sonia Piedrafita

CEPS Papers from Centre for European Policy Studies

Abstract: This CEPS Special Report investigates ways to enhance the legitimacy of economic governance in the Economic and Monetary Union (EMU) without introducing Treaty changes. It suggests changes in the governance framework at both the institutional and economic level. Input-oriented legitimacy can be improved by increasing parliamentary oversight on decisions related to EMU and increasing the accountability of the Eurogroup. Output-oriented legitimacy can be improved by strengthening the ability of EMU to reduce the emergence of negative externalities and to mitigate their impact, through market and fiscal risk-sharing mechanisms.

Pages: 92 pages
Date: 2014-12
New Economics Papers: this item is included in nep-eec
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eps:cepswp:9914

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