The instruments of Eurozone fiscal surveillance through the lens of the soft law/hard law dichotomy—Looking for a new approach

Abstract The past decade has profoundly reshaped the fiscal governance system of Eurozone. Supranational prerogatives vis-à-vis State budgets have been significantly expanded, thereby redefining nature Union action in field policy and transforming dynamics between its Member States. In spite overhaul practical effects that Eurozone now produces on ground, paper shows overall, this regulatory still formally qualifies as soft law. This results a deep disconnect form substance surveillance Eurozone, which raises number constitutional challenges. source is to be found strict apprehension hard law/soft law divide narrow understanding bindingness attached it, currently prevails legal discipline, but no longer corresponds realities EU’s practice. From there on, offers an alternative approach towards distinction law, based renewed, more open contextual, concepts effects, might reconcile reality nowadays.