Intergovermentalism and its Outcomes: the Implications of the Euro Crisis on the European Union

Abstract

The euro crisis has brought to the crisis of the intergovernmental EU not of the EU as such. The Lisbon Treaty in fact has institutionalized a dual constitution, supranational in the single market’s policies and intergovernmental in (among others) economic and financial policies. The extremely complex system of economic governance set up for answering the euro crisis has been defined and implemented on the basis of the intergovernmental constitution of the EU. The euro crisis has thus represented a test for testing the validity of the intergovernmental constitution of the Lisbon Treaty. Although the measures adopted in the period 2010-2012, consisting both of legislative decisions and new intergovernmental treaties, are of an unprecedented magnitude, they were nevertheless unable to promote effective and legitimate solutions for dealing with the financial crisis. In the context of an existential challenge, the intergovernmental approach faced a structural difficulty in solving basic dilemmas of collective action.The euro crisis has brought to the crisis of the intergovernmental EU not of the EU as such. The Lisbon Treaty in fact has institutionalized a dual constitution, supranational in the single market’s policies and intergovernmental in (among others) economic and financial policies. The extremely complex system of economic governance set up for answering the euro crisis has been defined and implemented on the basis of the intergovernmental constitution of the EU. The euro crisis has thus represented a test for testing the validity of the intergovernmental constitution of the Lisbon Treaty. Although the measures adopted in the period 2010-2012, consisting both of legislative decisions and new intergovernmental treaties, are of an unprecedented magnitude, they were nevertheless unable to promote effective and legitimate solutions for dealing with the financial crisis. In the context of an existential challenge, the intergovernmental approach faced a structural difficulty in solving basic dilemmas of collective action.Refereed Working Papers / of international relevanc