The Eurogroup, power and accountability

This article considers the role of the Eurogroup in EU decision-making, a topic that is under-theorised, more especially given its importance in the overall EU schema. The Eurogroup's power has grown very considerably, largely because of the enhanced role that it has been accorded as a result of the financial crisis, with the result that its power no longer accords with the Treaty provisions that specify its function. The article sets out the Treaty foundations of the Eurogroup, examines its role in EU decision-making, the rationale for its increased power, and the extent to which it is politically and legally accountable.