582
Views
8
CrossRef citations to date
0
Altmetric
Articles

Supranational agency and indirect governance after the Euro crisis: ESM, ECB, EMEF and EFB

ORCID Icon

References

  • Abbott, K. W., P. Genschel, D. Snidal, and B. Zangl. 2015a. “Orchestration: Global Governance through Intermediaries.” In International Organizations as Orchestrators, edited by K. W. Abbott, P. Genschel, D. Snidal, and B. Zangl, 3–36. Cambridge: Cambridge University Press.
  • Abbott, K. W., P. Genschel, D. Snidal, and B. Zangl. 2015b. “Two Logics of Indirect Governance: Delegation and Orchestration.” British Journal of Political Science 46 (4): 719–729. doi:10.1017/S0007123414000593.
  • Abbott, K. W., P. Genschel, D. Snidal, and B. Zangl. forthcoming. “Competence versus Control: The Governor’s Dilemma.” Regulation & Governance early view: 1–18. doi:10.1111/rego.12234.
  • Alter, K. J. 2008. “Agents or Trustees? International Courts in Their Political Context.” European Journal of International Relations 14 (1): 33–63. doi:10.1177/1354066107087769.
  • Asatryan, Z., X. Debrun, F. Heinemann, M. Horvath, Ľ. Ódor, and M. Yeter. 2017. “Making the Most of the European Fiscal Board.” In ZEW Policy Brief No. 3/2017, edited by Achim Wambach. Mannheim: Centre for European Economic Research (ZEW).
  • Ban, C., and L. Seabrooke. 2017. “From Crisis to Stability: How to Make The European Stability Mechanism Transparent and Accountable.” In Eurozone Economic Governance, edited by Leo Hoffmann-Axthelm. Berlin: Transparency International EU.
  • Bauer, M. W., and S. Becker. 2014. “The Unexpected Winner of the Crisis: The European Commission’s Strengthened Role in Economic Governance.” Journal of European Integration 36 (3): 213–229. doi:10.1080/07036337.2014.885750.
  • Beetsma, R. M. W. J., and X. Debrun. 2017. “Fiscal Councils: Rationale and Effectiveness.” In Rethinking Fiscal Policy after the Crisis, edited by Ľ. Ódor, 103–137. Cambridge: Cambridge University Press.
  • Bernhard, M. 2015. “Chronic Instability and the Limits of Path Dependence.” Perspectives on Politics 13 (4): 976–991. doi:10.1017/S1537592715002261.
  • Bickerton, C. J., D. Hodson, and U. Puetter. 2015. “The New Intergovernmentalism: European Integration in the Post-Maastricht Era.” JCMS: Journal of Common Market Studies 53 (4): 703–722. doi:10.1111/jcms.12212.
  • Brunnermeier, M. K., H. James, and J.-P. Landau. 2016. The Euro and the Battle of Ideas. Princeton: Princeton University Press.
  • Bundesbank. 2019. Monthly Report April. Frankfurt am Main: Bundesbank.
  • Claeys, G., and A. M. Collin. 2018. Does the Eurogroup’s Reform of the ESM Toolkit Represent Real Progress? edited by Bruegel. Brussels: Bruegel.
  • De Grauwe, P. 2012. “The Governance of a Fragile Eurozone.” Australian Economic Review 45 (3): 255–268. doi:10.1111/aere.2012.45.issue-3.
  • De Grauwe, P. 2013. “The Political Economy of the Euro.” Annual Review of Political Science 16: 153–170. doi:10.1146/annurev-polisci-060911-085923.
  • De Rynck, S. 2016. “Banking on a Union: The Politics of Changing Eurozone Banking Supervision.” Journal of European Public Policy 23 (1): 119–135. doi:10.1080/13501763.2015.1019551.
  • Degner, H., and D. Leuffen. 2019. “Franco-German Cooperation and the Rescuing of the Eurozone.” European Union Politics 20 (1): 89–108. doi: 10.1177/1465116518811076.
  • Dehousse, R. 2016. “Why Has EU Macroeconomic Governance Become More Supranational?” Journal of European Integration 38 (5): 617–631. doi:10.1080/07036337.2016.1180826.
  • Epstein, R. A. 2017. Banking on Markets: The Transformation of Bank-state Ties in Europe and Beyond. Oxford: Oxford University Press.
  • Epstein, R. A., and M. Rhodes. 2016. “The Political Dynamics behind Europe’s New Banking Union.” West European Politics 39 (3): 415–437. doi:10.1080/01402382.2016.1143238.
  • Eurogroup. 2018. Term Sheet on the European Stability Mechanism Reform. Brussels: Eurogroup.
  • European Commission. 2015. Commission Decision (EU) 2015/1937 of 21 October 2015 Establishing an Independent Advisory European Fiscal Board. Brussels: European Commission.
  • European Commission. 2017a. “Further Steps Towards Completing Europe’s Economic and Monetary Union: A Roadmap.” In Com(2017) 821, 4–6. Brussels: European Commission.
  • European Commission. 2017b. Proposal for a Council Directive laying down provisions for strengthening fiscal responsibility and the medium-term budgetary orientation in the Member States. In COM(2017) 824 final. Brussels: European Commission.
  • European Commission, and European Stability Mechanism. 2018. Future Cooperation between the European Commission and the European Stability Mechanism. Brussels: European Commission and European Stability Mechanism.
  • European Council. 2018. Euro Summit Meeting. Brussels: European Council.
  • European Fiscal Board. 2017. Annual Report. edited by Secretariat of the European Fiscal Board. Brussels: European Fiscal Board.
  • European Fiscal Board. 2018. Annual Report. edited by Secretariat of the European Fiscal Board. Brussels: European Fiscal Board.
  • Fasone, C., and E. Griglio. 2013. “Can Fiscal Councils Enhance the Role of National Parliaments in the European Union? A Comparative Analysis.” In The Euro Crisis and the State of European Democracy, edited by B. De Witte, A. Héritier, and A. Trechsel, 264–305. Florence: European University Institute.
  • Federal Government of Germany. 2018. Meseberg Declaration -Renewing Europe’s Promises of Security and Prosperity. Berlin: Press and Information Office of the Federal Government.
  • Foy, H. 2015. “Eurozone Needs Independent Fiscal Oversight, Says Dijsselbloem.” In Financial Times November 4, edited by Financial Times. London: Financial Times Limited.
  • Fromage, D. 2017. “Creation and Reform of Independent Fiscal Institutions in EU Member States: Incomplete and Insufficient Work in Progress?” In Constitutional Change through Euro-Crisis Law, edited by B. de Witte, C. Kilpatrick, and T. Beukers, 108–142. Cambridge: Cambridge University Press.
  • Genschel, P., and M. Jachtenfuchs. 2014. “Beyond Market Regulation. Analysing the European Integration of Core State Powers.” In Beyond the Regulatory Polity?: The European Integration of Core State Powers, edited by P. Genschel and M. Jachtenfuchs, 1–23. Oxford: Oxford University Press.
  • Genschel, P., and M. Jachtenfuchs. 2016. “More Integration, Less Federation: The European Integration of Core State Powers.” Journal of European Public Policy 23 (1): 42–59. doi:10.1080/13501763.2015.1055782.
  • Glöckler, G., J. Lindner, and M. Salines. 2017. “Explaining the Sudden Creation of a Banking Supervisor for the Euro Area.” Journal of European Public Policy 24 (8): 1135–1153. doi:10.1080/13501763.2016.1184296.
  • Gocaj, L., and S. Meunier. 2013. “Time Will Tell: The EFSF, the ESM, and the Euro Crisis.” Journal of European Integration 35 (3): 239–253. doi:10.1080/07036337.2013.774778.
  • Grant, R. W., and R. O. Keohane. 2005. “Accountability and Abuses of Power in World Politics.” American Political Science Review 99 (1): 29–44. doi:10.1017/S0003055405051476.
  • Gren, J., D. Howarth, and L. Quaglia. 2015. “Supranational Banking Supervision in Europe: The Construction of a Credible Watchdog.” JCMS: Journal of Common Market Studies 53 (S1): 181–199. doi:10.1111/jcms.12271.
  • Gros, D., and T. Mayer. 2010. “How to Deal with Sovereign Default in Europe: Create the European Monetary Fund Now!.” CEPS Policy Brief No.202. Brussels: Centre for European Policy Studies (CEPS).
  • Hadfield, G. 1997. “An Incomplete Contracting Perspective on Fiduciary Duty.” Canadian Business Law Journal 28 (1): 141–154.
  • Henning, C. R. 2016. “The ECB as a Strategic Actor: Central Banking in a Politically Fragmented Monetary Union.” In The Political and Economic Dynamics of the Eurozone Crisis, edited by J. A. Caporaso and M. Rhodes, 167–199. Oxford: Oxford University Press.
  • Henning, C. R. 2017. Tangled Governance: International Regime Complexity, the Troika, and the Euro Crisis. Oxford: Oxford University Press.
  • Hodson, D. 2011. “The Rise and Fall of the Eurogroup.” In Governing the Euro Area in Good Times and Bad, edited by D. Hodson, 38–56. Oxford: Oxford University Press.
  • Hooghe, L., and G. Marks. 2009. “A Postfunctionalist Theory of European Integration: From Permissive Consensus to Constraining Dissensus.” British Journal of Political Science 39 (1): 1–23. doi:10.1017/S0007123408000409.
  • Horvath, M. 2018. “EU Independent Fiscal Institutions: An Assessment of Potential Effectiveness.” JCMS: Journal of Common Market Studies 56 (3): 504–519. doi:10.1111/jcms.12631.
  • Howarth, D., and L. Quaglia. 2015. “The New Intergovernmentalism in Financial Regulation and European Banking Union.” In The New Intergovernmentalism: States and Supranational Actors in the Post-Maastricht Era, edited by C. J. Bickerton, D. Hodson, and U. Puetter, 146–162. Oxford: Oxford University Press.
  • Howarth, D., and L. Quaglia. 2013. “Banking Union as Holy Grail: Rebuilding the Single Market in Financial Services, Stabilizing Europe’s Banks and ‘completing’ Economic and Monetary Union.” JCMS: Journal of Common Market Studies 51: 103–123. doi:10.1111/jcms.12054.
  • Jankovics, L., and M. Sherwood. 2017. “Independent Fiscal Institutions in the EU Member States: The Early Years.” European Economy Discussion Papers 067: 1–34.
  • Jones, E., R. D. Kelemen, and S. Meunier. 2016. “Failing Forward? the Euro Crisis and the Incomplete Nature of European Integration.” Comparative Political Studies 49 (7): 1010–1034. doi:10.1177/0010414015617966.
  • Juncker, J.-C., D. Tusk, J. Dijsselbloem, M. Draghi, and M. Schulz. 2015. Completing Europe’s Economic and Monetary Union. Brussels: European Commission.
  • Kassim, H., and A. Menon. 2003. “The Principal-agent Approach and the Study of the European Union: Promise Unfulfilled?” Journal of European Public Policy 10 (1): 121–139. doi:10.1080/1350176032000046976.
  • Kreuder-Sonnen, C. 2016. “Beyond Integration Theory: The (anti-)constitutional Dimension of European Crisis Governance.” JCMS: Journal of Common Market Studies 54 (6): 1350–1366. doi:10.1111/jcms.12379.
  • Kydland, F. E., and E. C. Prescott. 1977. “Rules Rather than Discretion: The Inconsistency of Optimal Plans.” Journal of Political Economy 85 (3): 473–491. doi:10.1086/260580.
  • Larch, M., and T. Braendle. 2018. “Independent Fiscal Councils: Neglected Siblings of Independent Central Banks? an EU Perspective.” JCMS: Journal of Common Market Studies 56 (2): 267–283. doi:10.1111/jcms.12577.
  • Leblond, P. 2004. “Completing the Maastricht Contract: Institutional Handicraft and the Transition to European Monetary Union.” JCMS: Journal of Common Market Studies 42 (3): 553–572. doi:10.1111/j.0021-9886.2004.00518.x.
  • Majone, G. 2001. “Two Logics of Delegation: Agency and Fiduciary Relations in EU Governance.” European Union Politics 2 (1): 103–122. doi:10.1177/1465116501002001005.
  • Mayer, T. 2009. “The Case for a European Monetary Fund.” Intereconomics 44 (3): 138–141.
  • McCubbins, M. D., and T. Schwartz. 1984. “Congressional Oversight Overlooked: Police Patrols versus Fire Alarms.” American Journal of Political Science 28 (1): 165–179. doi:10.2307/2110792.
  • New Hanseatic League. 2018. “Finance Ministers from Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands and Sweden Underline Their Shared Views and Values in the Discussion on the Architecture of the EMU.” New Hanseatic League.
  • Pollack, M. A. 1997. “Delegation, Agency, and Agenda Setting in the European Community.” International Organization 51 (1): 99–134. doi:10.1162/002081897550311.
  • Puetter, U. 2012. “Europe’s Deliberative Intergovernmentalism: The Role of the Council and European Council in EU Economic Governance.” Journal of European Public Policy 19 (2): 161–178. doi:10.1080/13501763.2011.609743.
  • Reuters. 2016. Juncker’s Remarks on France Damage Credibility of Commission: Dijsselbloem, edited by H. Lawson, Reuters online. https://uk.reuters.com/article/uk-eurozone-france-juncker-dijsselbloem-idUKKCN0YP0IX.
  • Schimmelfennig, F. 2014. “European Integration in the Euro Crisis: The Limits of Postfunctionalism.” Journal of European Integration 36 (3): 321–337. doi:10.1080/07036337.2014.886399.
  • Schimmelfennig, F. 2015. “Liberal Intergovernmentalism and the Euro Area Crisis.” Journal of European Public Policy 22 (2): 177–195. doi:10.1080/13501763.2014.994020.
  • Schmidt, V. A. 2016. “Reinterpreting the Rules ‘by Stealth’ in Times of Crisis: A Discursive Institutionalist Analysis of the European Central Bank and the European Commission.” West European Politics 39 (5): 1032–1052. doi:10.1080/01402382.2016.1186389.
  • Schoeller, M. G. 2018. “Leadership by Default: The ECB and the Announcement of Outright Monetary Transactions.” Credit and Capital Markets – Kredit Und Kapital 51 (1): 73–91. doi:10.3790/ccm.51.1.73.
  • Seikel, D. 2018. “Patterns of Pooling and Delegation after the Crisis: Old and New Asymmetries.” Journal of European Integration 1–17. doi:10.1080/07036337.2018.1553962.
  • Tesche, T. 2019. “‘The Troika Is Dead, Long Live the Domestic Troikas?’: The Diffusion of National Fiscal Councils in the European Union.” JCMS: Journal of Common Market Studies. doi:10.1111/jcms.12880.
  • Thatcher, M., and A. S. Sweet. 2002. “Theory and Practice of Delegation to Non-Majoritarian Institutions.” West European Politics 25 (1): 1–22. doi:10.1080/713601583.
  • Torres, F. 2013. “The EMU’s Legitimacy and the ECB as a Strategic Political Player in the Crisis Context.” Journal of European Integration 35 (3): 287–300. doi:10.1080/07036337.2013.774784.
  • Valero, J. 2018. EU Fiscal Board Blames Commission for Ineffective Recommendations. Brussels: Euroactiv.com.
  • Verdun, A. 2015. “A Historical Institutionalist Explanation of the EU’s Responses to the Euro Area Financial Crisis.” Journal of European Public Policy 22 (2): 219–237. doi:10.1080/13501763.2014.994023.
  • Véron, N. 2015. “Europe’s Radical Banking Union.” In Bruegel Essay and Lecture Series, edited by S. Gardner, 1–61. Brussels: Bruegel.
  • Xanthoulis, N. 2018. “The Commission’s Proposal for a European Minister of Economy and Finance: Institutional Empowerment, Constitutional Tensions and the Ministerial Taboo.” CERiM Online Paper Series 7/2018: 1–27.
  • Zilioli, C. 2016. “The ECB’s Powers and Institutional Role in the Financial Crisis: A Confirmation from the Court of Justice of the European Union.” Maastricht Journal of European and Comparative Law (MJ) 23 (1): 171–185. doi:10.1177/1023263X1602300110.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.