Can the EU Be Democratised? : A Political Economy Analysis
The decline in confidence in the EU during the euro crisis is verging on a legitimation crisis. A political economy analysis of the disparities and contradictions of the EMU points strongly towards alternative and more empowered EU-institutions. A problem is that establishing them could further deepen the problem of democratic legitimacy, unless we can think of ways of democratizing EU practices and institutions in a broader way. Moreover, any plausible account of democratization of the EU would have to include a careful analysis of the world historical context of transformative political actions. What makes things complicated is that political economy analysis of the European integration process reveals also a self-reinforcing process, stemming from economic globalization, whereby the 'wishes' of business leaders and capitalists have become entrenched in the prevailing culture, vested interests and institutional arrangements, thus making changes difficult. Moreover, EU-institutions cannot be transformed without revising the basic treaties. In the past, treaty-revisions have been piecemeal, cumbersome and time-consuming. Real world constraints on transformations include the structural power of transnational investors; the influence of the lobbyists in Brussels; and the way media and education are being arranged across Europe and the world. By way of conclusion, I propose ways of alleviating or overcoming these obstacles. ; Peer reviewed