The Role of the European Parliament in Managing Europe’s Economic Crisis

Abstract

Until recently, especially in financial governance issues, studies had paid little attention to the role of the European Parliament (EP), rather focusing on other institutions such as the European Council, the Commission and the European Central Bank. In a chapter that we contributed to a recently published book,* we discuss the role of the EP in the management of the global financial crisis that erupted in 2008 and soon spread into the Eurozone economies – shaking European economic governance and bringing several European Union (EU) economies to the brink of bankruptcy. The current article distills some of the key points that we make in that chapter.