EPRSLibrary By / January 3, 2013

Parliament’s role in anti-crisis decision-making

The EU’s response to the financial and economic crisis has been characterised by the prominent role of the European Council….

Copyright European Parliament, 2012.
Copyright European Parliament, 2012.
Copyright European Parliament, 2012.

The EU’s response to the financial and economic crisis has been characterised by the prominent role of the European Council. Moreover, a number of anti-crisis instruments have been adopted outside the EU framework in order to overcome political and legal hurdles and to speed up negotiations.

The EP has played a very limited role in the development of agreements adopted outside the EU framework, but it does have some involvement in the implementation of these instruments, although usually merely through a right to being informed.

This minimal participation of the EP in anti-crisis decision-making is seen as a major shortcoming in the democratic legitimacy of European economic governance. While inter-parliamentary cooperation between the EP and national parliaments is regarded as a necessary tool in a multi-governance system, the EP is considered to be the most appropriate body to scrutinise decision-making at EU level.

Proposals aimed at ensuring greater involvement of the EP in economic-governance decisions include the creation of a new EP committee responsible for euro-area matters. A greater link between the EP election campaign and the policies of the Commission is also seen as a means to increase legitimacy.

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