| Abstract [eng] |
A Mandate or a Dictate? Legitimacy of the EU Financial Crisis Management In this thesis legitimacy of the EU financial crisis management is examined. The key question of this thesis is: Was the management of the EU financial crisis illegitimate in respect of the citizens? If yes, to what extent was it illegitimate? This question is the starting point of the analysis. In order to answer the question F. W. Scharpf democratic legitimacy evaluation theoretical model was chosen. Based on this model, two dimensions of political process – input and output – is analysed. Two hypotheses were raised in work based on the theoretical model. H(1) Financial assistance to EU member states during the crisis measure was illegitimate because the citizens of the EU did not have influence in the decision making process. H(2) Financial assistance to EU member states during the crisis measure was illegitimate because it did not bring positive results. The aim of the analysis: based on the democratic legitimacy model, evaluate the legitimacy of the EU financial crisis management. The object of the analysis: EU financial crisis management measures. This analysis concentrates on one particular measure – financial assistance to the EU member states. The states, that are analysed in this thesis are: Hungary, Latvia, Romania, Ireland, Spain, Portugal and Greece (Cyprus is not included in the analysis as it has finished the financial assistance program just recently). Based on the analysis, hypotheses are tested and the main findings presented. Based on the analysis of input legitimacy hypothesis H(1) was confirmed. Financial assistance measure redistributed the balance of powers among national and supranational players in the EU. Institutions that are not elected directly and are not accountable to citizens gained more powers. Also, sovereignties of countries were constrained as these countries had to commit to implement various reforms. Based on the analysis of input legitimacy hypothesis H(2) was partially denied. Analysis showed that financial assistance measure helped to overcome financial crisis as well as stabilize situation in these countries and positive macroeconomic results were achieved in all countries. However, analysis of various social welfare indicators showed that some of them deteriorated during the crisis period and that might have have a greiat impact on EU citizens’ quality of life. |
