A Euro Area Finance Ministry – Recipe for Improved Governance?

The following article aims to examine how the challenge of legitimacy for a euro area finance ministry can be met for the two versions as such; and for a potential transition from the functionalist version to the federalist one. To this end, the article refers to the key principles of governance, namely rule of law and the prevalence of free markets (Juncker 2017). In other words, it explores the extent to which the current proposals for introducing and operating a finance ministry comply with these two principles, which can be regarded as pivotal for democracies and economic efficiency.