Abstract
This article engages critically with the International Governmentality Studies, delineating a new use of Foucault’s toolbox applied to analyse the New Economic Governance (NEG) reforms. The main argument is that the NEG is a reaffirmation and a reinforcement of the fiscal governance machine established with the Stability and Growth Pact (SGP). The fiscal governance machine is an ensemble of techniques shaped by and through which the European art of government is able to work in the entire European space. The article analyses how the Treaty on Stability Coordination and Governance reaffirms this fiscal governance machine. By looking at three techniques – the structural deficit, the Fiscal Council, and the Automatic Mechanism – it shows some key features of this fiscal governance machine: a new discretional power in the hand of the European Commission and of its DG Finance, a decentralised and semi-automatic form of control on Member states, the structuration of a euro-national ensemble of executives and finance institutions.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
