ABSTRACT
The accumulation of managerial competences by a European executive in the course of crisis is shocking both in its ubiquity and character. Crisis law departs significantly from European law and governance. In an emergency situation, Thomas Pringle's concerns about Europe's crisis management were legally well-founded and perhaps catastrophic for the entire machinery of European crisis management. Nevertheless, when viewed through the dual lenses of global democratic crisis and European exceptionalism, Habermas's faith in the ability of political process in Europe to re-establish meaningful political steering capacity must surely be doubted in the short-term. The financial crisis which precipitated monetary crisis within the Eurozone has far longer roots within the slow collapse of the whole edifice of democratic capitalism far beyond the workings of the European Union (EU). European Monetary Union (EMU) was a political project, a part of the neo-functionalist effort to perfect European Union through economic integration.
