It is said that austerity is our fate. But severe fiscal constraints are a fact of economic life only for countries without their own currency.
By Panagiota Manoli and Georgios Maris
Until recently, especially in financial governance issues, studies had paid little attention to the role of the European Parliament (EP), rather focusing on other institutions such as the European Council, the Commission and the European Central Bank. In a chapter that we contributed to a recently published book,* we discuss the role of the EP in the management of the global financial crisis that erupted in 2008 and soon spread into the Eurozone economies.