Europe's deliberative intergovernmentalism: the role of the Council and European Council in EU economic governance

TLDR: The European Council has emerged as the centre of political gravity in the field of economic governance as mentioned in this paper, and the Eurogroup fulfils a crucial role as forums for policy debate, which is the reflection of an integration paradox inherent to the post-Maastricht EU.

Abstract: The European Union's (EU's) responses to the economic and financial crisis provided a vigorous illustration for how the role of the Union's core intergovernmental bodies – the European Council and the Council – has evolved in recent years. The European Council has emerged as the centre of political gravity in the field of economic governance. The Council and the Eurogroup fulfil a crucial role as forums for policy debate. The emphasis on increased high-level intergovernmental policy co-ordination is the reflection of an integration paradox inherent to the post-Maastricht EU. While policy interdependencies have grown, member state governments have resisted the further transfer of formal competences to the EU level and did not follow the model of the Community method. Instead, they aim for greater policy coherence through intensified intergovernmental co-ordination. Given its consensus dependency, this co-ordination system can best be conceptualized as deliberative intergovernmentalism.