Projektnummer

0063722

Zusammenfassung

The European integration process also involved the formation of rather unclear and vague risk sharing mechanisms. In response to this crisis, and to make up for the lack of an ade-quate risk sharing mechanism, adjustments to existing governance arrangements, both in-stitutional and procedural, have deviated ad hoc from previously agreed principles. Although rather effective at times, this approach has given rise to legitimacy concerns, highlighting a potential tradeoff between effectiveness on the one hand and legitimacy on the other hand. Against this background, a conceptual framework is dev...