The European Stability Mechanism and Domestic Preference Formation During the Eurocrisis: The Role of Non-Governmental Actors

Abstract

This article addresses a gap in the Eurocrisis literature by investigating the role of important socio-economic actors, such as representatives from organised business and labour, as well as parliamentarians in determining governmental preferences on the European Stability Mechanism during the Eurocrisis and in more recent discussions on the future of the European Stability Mechanism. It is argued that the study of the roles of key interest groups, parliaments and public opinion adds important weight to existing studies and frameworks. It speaks particularly of studies which suggest that governments enjoyed important leeway in forming their preferences on the European Stability Mechanism and were driven predominantly by internal technocratic advice and their integration into EU-level structures of bureaucratic cooperation. The findings show that initial governmental preferences were not challenged by important interest groups and that where they were challenged by parliamentary actors, concessions did not affect the original principles of the European Stability Mechanism design.