The Euro crisis and beyond : the transformation of the European political system

Abstract

The Euro crisis has had a contradictory impact on European policy-making. It has led to a massive transfer of authority to the European level in areas such as macroeconomic policy and banking regulation, which have enormous implications over a large range of public policies. This attempt at reinforcing depoliticized governance has, in turn, dramatically enhanced the domestic salience of EU membership and hostility to European integration, notably in domestic elections. In parallel, however, one has witnessed an attempt at reinforcing the accountability of European institutions with the so-called Spitzenkandidaten system. While the result of these contrasting forces remains to be seen, it has to date aggravated the European democracy conundrum: the Union and its policies are more present in domestic political debates, but they are increasingly contested.