This article looks at the measures that were adopted in response to the Euro crisis and the COVID-19 pandemic and their implications for accountability and democratic legitimacy in the area of Economic and Monetary Union (EMU). The discussion begins with the legitimacy issues that were facing...

The European Stability Mechanism (ESM) has been instrumental in safeguarding the financial stability of the Euro area and its Member States. This article looks at the tumultuous process of reforming the ESM. It analyzes the main changes brought about by the draft revised ESM Treaty. These...