More democracy, not technocracy, Mr. Draghi
By Clément Fontan
On 16 March 2015, ECB chairman Mario Draghi delivered a speech at the Süddeutsche Zeitung Finance Day. Eurozone economic governance reforms were the topic of the day. The structural reforms proposed by Mr. Draghi are ideologically loaded and the creation of new institutions might worsen the democratic troubles in Europe rather than solve them. The ECB and other EU institutions have already been exploiting the financial crisis as an opportunity to implement structural reforms in a coercive manner for more than four years. The results have been worrying, to say the least.
