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

Munin, Nellie, Democracy and Financial Crisis between the Five Presidents Report and the Brexit: In Search for a New Way? (2016). International and Comparative Law Review, 2016, pp. 7-28., Available at SSRN: https://ssrn.com/abstract=3075835

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