ABSTRACT
This chapter argues that the weakening of autonomous collective bargaining undermines one of the cornerstones of post-war democratic governance. It outlines how different reform measures imposed on programme countries have led to a substantial deterioration of the bargaining power of trade unions. The chapter analyses how the euro crisis management and the new European economic governance regime affect the autonomy of collective bargaining as well as the bargaining power of trade unions in the Member States participating in the Economic and Monetary Union. It examines the autonomy of collective bargaining refers to the legally guaranteed prerogative of trade unions and employers to regulate central aspects of the economic and work life through collectively binding agreements. Wolfgang Streeck has revived the concept of democratic capitalism and applied it to the development of democratic and capitalist countries from the end of the Second World War.
