Democracy and Financial Crisis between the Five Presidents Report and the Brexit: In Search for a New Way?
International and Comparative Law Review, 2016, pp. 7-28.
Posted: 28 Nov 2017
Date Written: 2016
Abstract
In the aftermath of the Brexit, the EU is swinging between a vision of enhanced integration, specified by the Five Presidents Report, and a decision by the people of one of its leading member states – the UK – to withdraw this alliance, that may be interpreted as a non-confidence vote in the integration process underlying the EU. This article suggests that non-democratic elements embodied in the measures taken to pull out of the financial crisis and stabilize EU/EMU economies may enhance non-confidence among EU/EMU citizens, serving as an incentive for more member states to opt out of this alliance, inspired by the Brexit. New thinking may be advisable to prevent that drift.
Keywords: EU, Brexit, decision making, democratic deficit
JEL Classification: K00
Suggested Citation: Suggested Citation