The point of departure is an assessment of this new reformed governance, particularly organised within the so-called ‘European Semester’. This governance was considered by the European Commission and the Member States’ governments to be the indispensable condition of a well-functioning Economic and Monetary Union, and it was also considered by a number of these governments to be the pre-condition of putting an official financial solidarity mechanism in place.
This assessment shows that the reformed governance reduces national parliaments’ legitimating and controlling role over EMU-related policy-making at national level, whereas the EP did not have a comparable role at EU level in the first place.
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