15:25 Conclusions: Do We Need a European Referendum?
15:30 End of the seminar
Outline of seminar content
The European Stability Mechanism involves the tightening of budgetary discipline in the EU but is designed to avoid any referendums, meaning that its practical effects are confined to moral pressure and externally imposed self-discipline. “An annual assessment of the risk of macroeconomic imbalances and vulnerabilities will be undertaken, using an alert mechanism based on a few indicators”, but sanctions only may apply to Euro- countries.
However, Eurobond-plans and a new proposal for inter-governmental treaty to tighten economic governance in the euro zone go farther. For instance the proposed new Treaty requires that Member States’ regard their economic policies “as a matter of common concern” and that their budgetary policies are guided by the need for “sound public finances” and concern for European “competiveness”. What are the implications of these plans and proposal for socio-economic developments and democracy in Europe? Is the further constitutionalisation of disciplinary neoliberalism sustainable in economic or political terms? Are there alternatives?