Book contents
- The Crisis behind the Eurocrisis
- The Crisis behind the Eurocrisis
- Copyright page
- Dedication
- Contents
- Contributors
- Preface
- Acknowledgements
- Introduction The Elephant in the Room
- 1 There Is No (Legal) Alternative
- Part I The Crisis as a Crisis of the EU’s Identity
- Part II The Crisis as a Crisis of the EU’s Political and Democratic Legitimacy
- Part III The Crisis as a Crisis of the EU’s Economic Model
- 10 The Fiscal Compact
- 11 The Rise of Unaccountable Governance in the Eurozone
- 12 Unification from Above, Its Contradictions and the Conjuncture Initiated by the Eurozone Crisis
- Part IV The Crisis as a Crisis of the EU’s Social Character
- Part V Joining the Dots and the Way Forward
- Index
10 - The Fiscal Compact
A Paradoxical Fiscal Governance Machine
from Part III - The Crisis as a Crisis of the EU’s Economic Model
Published online by Cambridge University Press: 07 July 2019
- The Crisis behind the Eurocrisis
- The Crisis behind the Eurocrisis
- Copyright page
- Dedication
- Contents
- Contributors
- Preface
- Acknowledgements
- Introduction The Elephant in the Room
- 1 There Is No (Legal) Alternative
- Part I The Crisis as a Crisis of the EU’s Identity
- Part II The Crisis as a Crisis of the EU’s Political and Democratic Legitimacy
- Part III The Crisis as a Crisis of the EU’s Economic Model
- 10 The Fiscal Compact
- 11 The Rise of Unaccountable Governance in the Eurozone
- 12 Unification from Above, Its Contradictions and the Conjuncture Initiated by the Eurozone Crisis
- Part IV The Crisis as a Crisis of the EU’s Social Character
- Part V Joining the Dots and the Way Forward
- Index
Summary
This chapter analyses the Treaty on Stability Coordination and Governance (TSCG), as an emblematic example of the New Economic Governance. The New Economic Governance is the ensemble of economic and fiscal reforms that were introduced in the wake of the financial crisis. In this work, when we talk about New Economic Governance we refer specifically to: the European Semester; the Six-Pack; the Two-Pack; and the TSCG, better known by the name of its Third Title, ‘Fiscal Compact’. All these measures have been adopted by European institutions to deal with the financial speculation on the euro and the financial crisis after 2008. Together with the Financial Aid Programmes and the extraordinary measures of the European Central Bank (ECB), these financial and economic regulations form the institutional answer to the financial crisis in Europe.
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- The Crisis behind the EurocrisisThe Eurocrisis as a Multidimensional Systemic Crisis of the EU, pp. 243 - 263Publisher: Cambridge University PressPrint publication year: 2019
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