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Book review: <i>Accountability in the Economic and Monetary Union: Foundations, Policy, and Governance</i>, by Menelaos Markakis. (Oxford: Oxford University Press, 2020)

Book review: Accountability in the Economic and Monetary Union: Foundations, Policy, and... Book reviews 1281 Menelaos Markakis, Accountability in the Economic and Monetary Union: Foundations, Policy, and Governance. Oxford: Oxford University Press, 2020. 416 pages. ISBN: 9780198845263. GBP 80. The monograph by Markakis provides a thorough analysis of the accountability mechanisms that exist in the field of Economic and Monetary Union (EMU). This issue is relevant per se,but even more so since the financial crisis, which required more competences to be transferred from the national to the EU level. The ongoing COVID-19 crisis only strenthens the need for EU Member States to further integrate in this area; and, therefore, accountability standards must be proportionally stepped up. Guaranteeing democratic accountability within the EU is a particularly challenging endeavour, not least because of the executive predominance that still characterizes the EU governance framework. National parliaments suffer, for instance, from what has been termed an “information asymmetry” (Curtin) which is one of the reasons why it is difficult for national parliaments especially to participate in EU affairs effectively. Furthermore, as underlined by Markakis, EMU is characterized by its complexity and its fragmentation, which the measures adopted to counter the financial crisis have only exacerbated, thereby making the guarantee of adequate accountability standards even more http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Common Market Law Review Kluwer Law International

Book review: <i>Accountability in the Economic and Monetary Union: Foundations, Policy, and Governance</i>, by Menelaos Markakis. (Oxford: Oxford University Press, 2020)

Common Market Law Review , Volume 58 (4): 3 – Aug 1, 2021

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Publisher
Kluwer Law International
Copyright
Copyright © 2021 Kluwer Law International BV, The Netherlands
ISSN
0165-0750
Publisher site
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Abstract

Book reviews 1281 Menelaos Markakis, Accountability in the Economic and Monetary Union: Foundations, Policy, and Governance. Oxford: Oxford University Press, 2020. 416 pages. ISBN: 9780198845263. GBP 80. The monograph by Markakis provides a thorough analysis of the accountability mechanisms that exist in the field of Economic and Monetary Union (EMU). This issue is relevant per se,but even more so since the financial crisis, which required more competences to be transferred from the national to the EU level. The ongoing COVID-19 crisis only strenthens the need for EU Member States to further integrate in this area; and, therefore, accountability standards must be proportionally stepped up. Guaranteeing democratic accountability within the EU is a particularly challenging endeavour, not least because of the executive predominance that still characterizes the EU governance framework. National parliaments suffer, for instance, from what has been termed an “information asymmetry” (Curtin) which is one of the reasons why it is difficult for national parliaments especially to participate in EU affairs effectively. Furthermore, as underlined by Markakis, EMU is characterized by its complexity and its fragmentation, which the measures adopted to counter the financial crisis have only exacerbated, thereby making the guarantee of adequate accountability standards even more

Journal

Common Market Law ReviewKluwer Law International

Published: Aug 1, 2021

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