Managing the crisis through secrecy?

Transparency and access to information in crisis-ridden Europe have become sparse currency. While Brussels aims to tackle tax evasion through openness and more effective exchange of information, the uninvestigated claims of money laundering in Cyprus and the secretive decision-making in the ECB are but few examples of lack of accountability. Much of the crisis management takes place behind closed doors: the former Chairman of the Eurogroup, Jean-Claude Juncker went as far as to suggest in 2011 that the euro group meetings ought to take place in ‘dark, secret rooms’ to avoid speculation by the markets.