On the effectiveness and legitimacy of EU economic policies

by Mark Hallerberg, Benedicta Marzinotto and Guntram B. Wolff on 9th November 2012

For markets, European economic governance faces a crisis of policy effectiveness, while for citizens the European Union faces a democratic legitimacy crisis. The introduction of the European Semester economic policy surveillance system has not resolved these problems. Policy guidance deriving from the Semester is not focused enough on areas of significant spillovers and on problem countries, and national compliance is often procedural rather than actual. This brings into question both the Semester’s effectiveness and the democratic legitimacy of the EU’s new intervention rights, which allow intrusion into national policy-making.

This policy brief was presented to the Assemblée nationale of France on the 19th February 2014.

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