The crisis of functionalism and the reform of European economic governance

• Authors: Lionello Luca
• Languages of publication: EN

Abstracts

EN

This paper studies the impact of the sovereign debt crisis on the development of the process of European integration and the constitutional framework of the EU. The first section focuses on the causes of the sovereign debt crisis, analysing the structural deficits and weaknesses of the Economic and Monetary Union (EMU). The second section looks at the reforms, which have been progressively adopted by the Eurozone to overcome the crisis and prevent the collapse of the single currency. The third section reflects on the longstanding contradictions of the integration process, in terms of its legitimacy and effectiveness, which the crisis has definitely highlighted demanding an effective solution. In this regard, the paper argues that the sovereign debt crisis represents a turning point in the history of European unification, marking the limits of the functionalist approach of integration and demanding a re‑launch of the constitutional project in order to provide the monetary union with a veritable economic government.

Keywords

EN

Debt Crisis; Functionalism; Economic and Monetary Union

• Publisher: Księgarnia Akademicka
• Journal: Politeja : Pismo Wydziału Studiów Miedzynarodowych i Politycznych Uniwersytetu Jagiellońskiego
• Year: 2015
• Issue: 6(37)
• Pages: 281-297

Contributors

author

Lionello Luca

• Catholic University of Milan

References

• Allemand F., Martucci F., ‘La nouvelle gouvernance économique européenne’, Cahiers de droit européen, Vol. 1, No. 2 (2012).
• Amtenbrink F., Haan J. de, ‘Economic Governance in the European Union – Fiscal Policy Discipline versus Flexibility’, Common Market Law Review, Vol. 40 (2003), at <http://dx.doi.org/ 10.2139/ssrn.1349103>.
• Bastasin C., Saving Europe. How National Politics Nearly Destroyed the Euro, Washington 2012.
• Craig P., ‘The Stability, Coordination and Governance Treaty: Principle, Politics and Pragmatism’, European Law Review, Vol. 37 (2012).
• Crum B., ‘Saving Europe at the Cost of Democracy’, Journal of Common Market Studies, 2013, Vol. 51, No. 4, at <http://dx.doi.org/10.1111/jcms.12019>.
• Dawson M., Witte F. de, ‘Constitutional Balance in the EU after the Euro‑Crisis’, The Modern Law Review, Vol. 76, No. 5 (2013), at <http://dx.doi.org/10.1111/1468‑2230.12037>.
• De Sadeleer N., ‘The New Architecture of the European Economic Governance: a Leviathan or a Flat‑Footed Colossus?’, Maastricht Journal of Comparative and EU Law, Vol. 19, No. 3 (2012).
• Giegerich T. (ed.), Herausforderungen und Perspektiven der EU, Berlin 2012 (Veröffentlichungen des Walther‑Schücking‑Instituts für Internationales Recht an der Universität Kiel, 181).
• Habermas J., ‘Bringing the Integration of Citizens into Line with the Integration of States’, European Law Journal, Vol. 18, No. 4 (2012), at <http://dx.doi.org/10.1111/j.1468‑0386.2012.00618.x>.
• Habermas J., ‘Die Krise der Europäischen Union im Lichte einer Konstitutionalisierung des Völkerrechts – Ein Essay zur Verfassung Europas’, Zeitschrift für ausländisches öffentliches Recht und Völkerrecht, Vol. 72 (2012).
• Häde U., Euro‑Rettung zwischen Exekutivprimat und Parlamentsvorbehalt, Baden‑Baden 2012 (Dresdner Vorträge zum Staatsrecht, 4).
• Hermann C., ‘Wirtschaftsverfassung und Wirtschaftsregierung in der Europäischen Union’ in T. Giegerich (ed.), Herausforderungen und Perspektiven der EU, Berlin 2012 (Veröffentlichungen des Walther‑Schücking‑Instituts für Internationales Recht an der Universität Kiel, 181).
• Kadelbach S. (ed.), Nach der Finanzkrise. Rechtliche Rahmenbedingungen einer neuen Ordnung, Baden‑Baden 2012 (chriften zur Europäischen Integration und Internationalen Wirtschaftsordnung, 25).
• Lastra R.M., Louis J.V., ‘European Economic and Monetary Union: History, Trends, and Prospects’, Yearbook of European Law, Vol. 30, No. 1 (2013), at <http://dx.doi.org/10.1093/yel/yet003>.
• Louis J.V., ‘Un traité vite fait, bien fait? Le traité du 2 mars 2012 sur la stabilité, la coordination et la gouvernance au sein de l’Union économique et monétaire’, Revue trimestrielle de droit européen, Vol. 48, No. 1 (2012).
• Palmstorfer R., ‘To Bail Out or Not to Bail Out? The Current Framework of Financial Assistance for Euro Area Member States Measured against the Requirements of EU Primary Law’, European Law Review, No. 6 (2012).
• Peroni G., La crisi dell’euro. Limiti e rimedi dell’unione economica e monetaria, Milano 2012 (Pubblicazioni del Dipartimento di diritto pubblico italiano e sovranazionale, Universitŕ degli studi di Milano, Facoltŕ di giurisprudenza. Studi di diritto internazionale, 19).
• Schäfer W., Wass von Czege A.G. (eds.), Aktuelle Probleme der europäischen Integration, Baden‑Baden 2011 (Schriftenreihe des Europa‑Kollegs Hamburg zur Integrationsforschung, 67).
• Shore C., ‘“Government Without Statehood”? Anthropological Perspectives on Governance and Sovereignty in the European Union’, European Law Journal, Vol. 12, No. 6 (2006), at <http://dx.doi.org/10.1111/j.1468‑0386.2006.00343.x>.

Identifiers

DOI

10.12797/Politeja.12.2015.37.15