Strengthening economic governance of the European Union through enhanced cooperation: a still possible, but already missed, opportunity

Publishers Abstract:
Evaluates the success of the Treaty establishing the European Stability Mechanism 2012 and the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union 2012 (TSCG) and whether their aims could have been achieved under the existing legal framework. Reviews the scope for adopting a permanent financial stability mechanism under the Treaty on the Functioning of the European Union art.136 or previous EU rules, how enhanced co-operation or a flexibility clause may have resolved potential problems and whether existing provisions could have incorporated the TSCG into EU law.