Crisis as the New Constituent Power
The financial crisis didn't just test institutions; it fundamentally reshaped them, establishing a 'new normality' for European governance.
Quote
The anti-crisis exceptionality constitutes the matrix of the new normality of the reformed European economic governance.
Drossos says that the financial crisis of 2008 and the Eurozone crisis after it were not just outside problems to be managed. They were a powerful force. This 'anti-crisis exceptionality' created a 'new normality' for European economic governance. This new normality has more intense, often extra-legal, institutional adaptation, where the need for quick crisis response overrode established constitutional rules and democratic processes. The book says that this time of crisis-driven change has permanently altered how national and Europea...
Supporting evidence
The author points to the creation of new institutions like the European Stability Mechanism (ESM) and the implementation of stringent fiscal rules (e.g., the Fiscal Compact) outside of typical treaty revision processes, demonstrating how crisis necessitated a 'constitution-bending' approach.
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Policy analysts and legal scholars should re-evaluate the foundational principles of European integration, recognizing that crisis management has become a de facto, powerful mechanism for institutional evolution, often bypassing conventional democratic and legal safeguards. Future policy must anticipate this dynamic rather than assuming a static constitutional framework.








