Robert Csehi and Uwe Puetter
Chapter 10 by Robert Csehi and Uwe Puetter asks how financial market constraints and technocratic decision making impact on European political citizenship and democracy. Financial market constraints coupled with technocratic elements of European Union (EU) decision making can impose limitations on political choice both at the EU and member state levels, in particular in times of crisis. This constitutes an important challenge for the meaningful exercise of European political citizenship. It is important to pay closer attention to the actual processes of policy formation and involved groups of actors. By referring to concrete instances of EU responses to the euro crisis in a number of different case studies, this chapter advances an analytical framework which highlights the nexus between financial markets, a transnational technocratic elite, and political decision makers in a changed EU economic governance framework. Through the analysis of official documents, media reports and semi-structured interviews in several EU member states, this chapter shows the dominance of executive actors in EU-level and member states decision making and the influential role of a transnational technocratic elite. In particular, the exercise of parliamentary control at the national level is challenged.