Financial Transformation and Social Citizenship in the EU

Abstract

1. The transformation of financial relations in the EU has been accelerated by monetary union. 2. The transformation has serious implications for both industrial relations and social protection. 3. The current social policies of the EU are too weak to address these new pressures on European social models. 4. The agenda which is being set for the EU continues to give priority to “marketmaking” over “market-correcting” integration measures. 5. The problem of legitimacy which arises is fundamental to the extent that it takes the form of a challenge to member state participation in European construction.