Skip to main content Accessibility help
×
Hostname: page-component-78c5997874-lj6df Total loading time: 0 Render date: 2024-11-14T09:30:50.130Z Has data issue: false hasContentIssue false

3 - The New Economic Governance of the Eurozone and the Competence Allocation System of the EU

from Part II - The New Economic Governance of the Eurozone: A Rule of Law Analysis

Published online by Cambridge University Press:  14 July 2022

Paul Dermine
Affiliation:
Court of Justice of the European Union
Get access

Summary

Part II assesses the new economic governance of the Eurozone in light of the “rule of law” framework. Chapter 3 appraises this framework in light of the principle of conferral and the competence allocation system set up by the Treaties. It finds that the Treaties are marked by deep conceptual ambiguity as to the reach of the notion of economic policy and as to the meaning of the concept of policy coordination. It shows how this ambiguity, in-built flexibility and dynamism was fully taken advantage of by the Union in the context of the Eurocrisis and COVID-19 crisis to substantially transform and upgrade EU economic governance. It finds that the reform process flirted with the limits of what was constitutionally feasible but never facially violated the scope of the Treaties’ enabling clauses for economic policy. The advent of a new system of EU economic governance in the postcrisis era is not irreconcilable with the competence allocation system of the Union but materializes the Treaties’ spirit of purposive openness and contextual adaptability. As the EU legislator seems to have reached, with NGEU, the outer edge of what is constitutionally feasible, any further consolidation of the economic pillar would require Treaty revision.

Type
Chapter
Information
The New Economic Governance of the Eurozone
A Rule of Law Analysis
, pp. 145 - 169
Publisher: Cambridge University Press
Print publication year: 2022

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×