24 Nov 2020 | LSE Blog ‘EUROPP: European Politics and Policy’ publishes a co-authored piece by Andrei Guter-Sandu and Steffen Murau that has previously won a prize in the Hertie Foundation’s essay competition on capitalism and democracy.
The Eurozone’s system of governance is often accused of lacking democratic legitimacy. Andrei Guter-Sandu and Steffen Murau write on the role of ‘off-balance-sheet fiscal agencies’, such as the European Investment Bank, European Stability Mechanism and Single Resolution Fund. They argue that the use of these institutions and mechanisms effectively constitutes a ‘fiscal ecosystem by stealth’ and that if this system were to be put under the control of the European Parliament, it could offer a channel for enhancing legitimacy. Read more…
