BEGIN:VCALENDAR VERSION:2.0 PRODID:-//ĢƵ//NONSGML v1.0//EN NAME:PhD defence S. Merlo METHOD:PUBLISH BEGIN:VEVENT DTSTART:20250305T114500 DTEND:20250305T131542 DTSTAMP:20250305T114500 UID:2025/phd-defence-s-merlo@8F96275E-9F55-4B3F-A143-836282E12573 CREATED:20250503T080450 LOCATION:(1st floor) Auditorium, Main building De Boelelaan 1105 1081 HV Amsterdam SUMMARY:PhD defence S. Merlo X-ALT-DESC;FMTTYPE=text/html:

ĢƵ

Freedom As Non-Dominati on in the Economic and Monetary Union

Eurozone must become mo re democratic to prevent power inequality

The current structur e of the Eurozone leaves weaker member states with too little influen ce over important economic decisions. This is the conclusion of polit ical theorist Stefano Merlo in his research on the democratic shortco mings of the Economic and Monetary Union (EMU). He argues that decisi on-making within the Eurozone is too concentrated in the hands of une lected institutions and financial markets, leading to some countries being dominated by economic forces without meaningful input. To addre ss this, Merlo advocates for reforms that would enhance democratic co ntrol and ensure that all member states, regardless of their economic strength, have equal influence over their shared future.

Power inequality in the EMU
According to Merlo, the cu rrent rules of the EMU create a power imbalance: during times of cris is weaker economies are dependent on financial markets and technocrat ic institutions, while stronger economies exert more influence over p olicy. National governments are often unable to respond independently to economic crises due to the strict European budgetary rules, while key decisions are made by institutions such as the European Central Bank (ECB) and the European Commission, where citizens have little di rect influence.

Recommendations
To make the Eurozone fairer and more democratic, Merlo presents three key recomm endations. First, the ECB should act as a true ‘lender of last reso rt’ to prevent weaker economies from being targeted by speculators. Second, the EU’s strict fiscal rules should not be legally fixed b ut politically interpreted and democratically contested at both the n ational and the EU level. Third, independent fiscal councils should n ot dictate how much debt a country can take on but should instead pro vide transparent analyses to better inform parliaments and the public .

Accountability
Merlo’s recommendations align with broader debates about the future of the Eurozone. There is a growing call for EU institutions to be more accountable to citizen s. Merlo emphasizes that if the Eurozone wants to strengthen its demo cratic legitimacy, reforms are needed to create more balanced power r elations within the EMU. “My research not only provides a critical analysis of the current situation but also offers a vision of how the Eurozone can function better in the future without citizens and memb er states being dominated by economic and political power blocs.”

More information on the

DESCRIPTION:

Eurozone must become more democratic to prevent power inequality

The current structure of the Eurozone leaves weaker member states with too little influence over important economic decis ions. This is the conclusion of political theorist Stefano Merlo in h is research on the democratic shortcomings of the Economic and Moneta ry Union (EMU). He argues that decision-making within the Eurozone is too concentrated in the hands of unelected institutions and financia l markets, leading to some countries being dominated by economic forc es without meaningful input. To address this, Merlo advocates for ref orms that would enhance democratic control and ensure that all member states, regardless of their economic strength, have equal influence over their shared future. Power inequality in the EMU
According to Merlo, the current rules of the EMU create a power imbalance: during times of crisis weaker economies are dependent on f inancial markets and technocratic institutions, while stronger econom ies exert more influence over policy. National governments are often unable to respond independently to economic crises due to the strict European budgetary rules, while key decisions are made by institution s such as the European Central Bank (ECB) and the European Commission , where citizens have little direct influence. Recommendation s
To make the Eurozone fairer and more democratic, Merlo presents three key recommendations. First, the ECB should act as a tr ue ‘lender of last resort’ to prevent weaker economies from being targeted by speculators. Second, the EU’s strict fiscal rules shou ld not be legally fixed but politically interpreted and democraticall y contested at both the national and the EU level. Third, independent fiscal councils should not dictate how much debt a country can take on but should instead provide transparent analyses to better inform p arliaments and the public. Accountability
Merlo� �s recommendations align with broader debates about the future of the Eurozone. There is a growing call for EU institutions to be more acc ountable to citizens. Merlo emphasizes that if the Eurozone wants to strengthen its democratic legitimacy, reforms are needed to create mo re balanced power relations within the EMU. “My research not only p rovides a critical analysis of the current situation but also offers a vision of how the Eurozone can function better in the future withou t citizens and member states being dominated by economic and politica l power blocs.” More information on the Freedom As N on-Domination in the Economic and Monetary Union END:VEVENT END:VCALENDAR