References of "Spendzharova, Aneta"
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See detailDelivering value for money? The problematic accountability of the European Stability Mechanism
Howarth, David UL; Spendzharova, Aneta

in Stevenson, Paul; Sánchez-Barrueco, María-Luisa; Aden, Hartmut (Eds.) Financial Accountability in the European Union (2021)

This chapter undertakes a critical assessment of the accountability of one recent institutional addition to the Euro area governance system – the European Stability Mechanism (ESM). Regarding Euro area ... [more ▼]

This chapter undertakes a critical assessment of the accountability of one recent institutional addition to the Euro area governance system – the European Stability Mechanism (ESM). Regarding Euro area governance in general, Dawson (2015: 976) warns that many new structures designed in response to the Euro area crisis ‘depart from the mechanisms of legal and political accountability present in previous forms of EU decision-making without substituting new models of accountability in their place’. By examining in greater detail the financial accountability mechanisms applicable to an important new Euro area body, we identify accountability gaps and shortcomings in the complex EU architecture of financial control. [less ▲]

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See detailAccountability in Post‐Crisis Eurozone Governance: The Tricky Case of the European Stability Mechanism
Howarth, David UL; Spendzharova, Aneta

in Journal of Common Market Studies (2019), 57(4), 894-911

Established at the height of the Eurozone sovereign debt crisis, the intergovernmental European Stability Mechanism (ESM) has, potentially, considerable influence over decisions on the provision of loans ... [more ▼]

Established at the height of the Eurozone sovereign debt crisis, the intergovernmental European Stability Mechanism (ESM) has, potentially, considerable influence over decisions on the provision of loans to Eurozone member state governments and on the recapitalization of banks. Legally and organizationally, the ESM is an international financial institution and thus its accountability can be compared to that of the International Monetary Fund (IMF) and other international financial institutions. However, the ESM’s governance structure and decision-making procedures show that it is deeply embedded in the Eurozone governance architecture, resulting in a dual institutional embeddedness. Focusing on vertical and horizontal accountability combined with a learning perspective on accountability, this article presents an assessment of the accountability mechanisms applicable to the idiosyncratic ESM and how these mechanisms work in practice. [less ▲]

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