Conclusion
in The Eurogroup
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This chapter concludes the book by highlighting the institutional implications of this study for economic governance in the EMU and the wider EU. The Eurogroup represents a framework for routinised informal policy dialogue among the euro area's key decision makers. In this context the deliberative style of the informal discussions plays a pivotal role. The chapter highlights which lessons can be learnt in the area of the EMU from the experiences gained within the Eurogroup. In this context, the discussion pays particular attention to the consequences for economic governance within the euro area of the enlargement of the EU by ten new member states in 2004. Moreover, it considers the future use of deliberative intergovernmentalism in the light of concerns that the creation of informal negotiation settings at the intergovernmental level contradicts basic democratic principles. Finally, the discussion points to the possible use of this governance mode in other policy areas than the EMU.

The Eurogroup

How a secretive circle of finance ministers shape European economic governance

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