“Show Me The Money!” - The Changing Dynamics of Economic Governance in the EU

This opening paper reviews the state of the art in both the practice and the study of EU economic governance. Having identified a number of key developments that, taken together, amount to a reshaping of economic governance, both at the European level and at the national level, the paper proposes a research agenda required to capture the complex nature of these transformations. It recognises the emergence of a new politics of public finance and ‘public goods’ in Europe involving both the expansion of fiscal means available to the EU, and the more comprehensive control over public spending at the national level. In identifying the driving forces at play in these processes, the paper highlights both domestic factors and external pressures, and surveys the EU’s response to these challenges. Finally, the paper also engages with normative issues arising from these changes, in particular the implications of de-politicised and technocratic processes. In developing this research agenda, the paper will introduce the various contributions and relate their individual focus to the wider theme of the special issue.