The European Fiscal Board (EFB) is a supranational fiscal council advising the European Commission on the European Union (EU) fiscal framework. It was created as a response to the EU member states' repeated non-compliance with the EU fiscal rules and the emergence of national fiscal councils. Non-compliance with EU fiscal rules was often left unpunished and required a new expert body to regain some of the lost credibility of the EU's fiscal framework through enhanced fiscal monitoring. This article argues that the European Commission created the EFB in response to the new intergovernmental dynamics. A supranational fiscal watchdog that depends on the Commission for financial resources and access to information would deflect member states from delegating more competences away from the Commission. Thus, the Commission was able to counter a potential threat to its authority in EU fiscal governance by creating a supranational de novo body that it controlled.

Over the last two decades, the formation of grand coalitions has grown in the European Union (EU), even in countries with no previous political experience with them. Alongside a significant rise in both new and radical parties, grand coalitions signal the increasing fragmentation of contemporary European politics. We, therefore, investigate the electoral performance of both mainstream and new parties entering and leaving grand coalitions. We find that mainstream parties do not appear to enter grand coalitions after negative election results. They are, however, punished in the following elections, albeit not as heavily as previous findings have shown. This post-grand coalition electoral penalty is true for both major and minor grand coalition members. These findings contribute to the literature on party competition and provide insights into the choices mainstream parties' have been making in response to recent and rapid changes in the electoral landscape of the EU.