Reference : Delivering value for money? The problematic accountability of the European Stability ...
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Delivering value for money? The problematic accountability of the European Stability Mechanism
Howarth, David mailto [University of Luxembourg > Faculty of Language and Literature, Humanities, Arts and Education (FLSHASE) > Identités, Politiques, Sociétés, Espaces (IPSE) >]
Spendzharova, Aneta mailto [Maastricht University > Political Science]
Financial Accountability in the European Union
Stevenson, Paul mailto
Sánchez-Barrueco, María-Luisa mailto
Aden, Hartmut mailto
Routledge/UACES Contemporary European Studies
[en] Financial Accountability ; European Stability Mechanism ; Economic Governance ; Euro area ; European Union
[en] 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.

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