Eurorettung um jeden Preis?

The unprecedented bailout to save the euro started in 2010 and continues to influence the EU’s agenda. In this volume, entitled ‘Munich's Contributions to European Unification’, Andrea Zeller explores the implications of the measures to save the euro in terms of their democratic legitimacy. Basing her analysis on the normative core of democracy, she develops a model of democratic legitimacy in multilevel systems. Taking into account Fritz Scharpf's types of Europeanisation, she classifies the cooperation between European institutions, the IMF and the debtor countries as ‘joint decisions to ensure governmental solvency’. In the empirical part of the study, the author examines the impact of this new modality of European governance on democratic legitimacy from the perspective of the debtor countries concerned — with a disillusioning conclusion.