The European Economic Governance and its juridical and institutional implications: twenty-five years of adjustments

The economic and financial crisis of 2007 has forced to adopt a whole set of measures to reform the rules and functioning of the EMU and strengthen the economic governance of the EU. Measures that imply an increasing transfer of Member State's autonomy and that affect their sovereignty, having seen their decision-making capacity in economic, budgetary and fiscal issues seriously limited. Limitation that, in particular, is clearly reflected in the supervision and control of Member State's policies in the aforementioned areas carried out through the European Semester. The current paper analyses the nonstop process of creation of institutions and mechanisms to strengthen the economic governance of the UE carried out during the past decade. Process that has generated a scarcely harmonized construction, which can be criticised, mainly, for the decision-making method used -with the creation of new working methods and the use of mechanisms outside the Treaties that are little transparent-, as well as the low role assigned to the European Parliament and the lack of control mechanisms.