New European economic governance versus European economic government: From market constitutionalism toward a more redistributive constitutionalism

Abstract

The current debate about the management of the eurozone crisis focuses on correcting the failures of the structural design of the Economic and Monetary Union (Six pack, Two pack, European Semester, Euro Plus Pact, Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, Treaty establishing the European Stability Mechanism), is sterile to achieve the objective described. The real cornerstone is the contradiction between indirect market regulation and democracy, between the social dimension and the institutionalization of a hyper-rigidity market guarantor. In these terms, the only viable alternative to re-legitimize the European process is to build at European scale an area of contention and establish limits to unconditioned market centrality, that is to say, to the European economic government.