The European Monetary Union (EMU) has removed crucial instruments of macroeconomic management from the control of democratically accountable governments. Worse still, the EMU has systemically caused destabilizing macroeconomic imbalances that member states found difficult or impossible to...

Kritiker der europäischen Integration betonen immer wieder die rechtliche Einschränkung der Handlungsfähigkeit der nationalen Regierungen. Die verminderte nationale Kompetenz, verstärkt durch die Standortkonkurrenz im vollendeten Binnenmarkt, kann auch durch den Kompetenzzuwachs der...

This essay re-examines the dual – republican and liberal – foundations of democratic legitimacy in the Western traditions of normative political theory. Considered in isolation, the European Union conforms to liberal standards but cannot satisfy republican criteria. Given these conflicting...

On the basis of a brief reconstruction of the causes and impacts of the euro crisis, this paper explores, counterfactually and hypothetically, whether the new euro regime, insisting on fiscal austerity and supply-side reforms, could have prevented the rise of the crisis or is able to deal with...