European courts have allowed EU law to become subject to the demands of free market economics.

The Eurozone crisis has encouraged the reform of European institutions and the spread of austerity policies across struggling Eurozone economies. Michelle Everson assesses the role of European courts in this process, noting that they have shown an unwillingness to put legal obstacles in front of agreements generated as part of the EU’s crisis management. While this may be justified in the short-term, she argues that the fact these changes appear to be permanent raises serious questions about the legitimacy of European law. Moreover, it implies that the law itself has become subject to the pressures of financial markets.