ΛΟΓΟΔΟΣΙΑ ΚΑΙ ΕΥΡΩΠΑΪΚΗ ΕΝΩΣΗ

Πρόλογος XI that landscape caused by the financial crisis, which is also relevant as lesson to be learnt for the ongoing Covid-19 pandemic and other crisis situations in the future. The 2008 financial crisis that struck the world had important implications for the EU and its member states and the Euro as currency. Among the EU member states, some were more vulnerable to the shockwave that blew the financial markets. For the EU, the financial crisis also invoked a Euro crisis and, related to this, a capital market crisis. These events taught us that the EU is not only a well-organised finan- cial bureaucracy but also capable of dealing with serious and existential crises. In a very short span of time, and to a certain extent by way of improvisation, the EU cre- ated institutions and instruments in order to safeguard the solidity of EU financial governance. This was an extremely complex – and time-consuming – process from which quite a few EU citizens suffered the serious consequences, as shown in the ECA’s special reports. In Chapter 5, Milionis analyses this response to the financial crisis and the correlated budgetary discipline. By way of prologue, I would like to observe that with this comprehensive study on Accountability and the European Union - The Financial Dimension, Milionis offers the Greek reader a unique insight into this complex subject. To a certain extent, he is also offering the reader an – expert – insight into the broader concepts of transpar- ency and accountability and specifically on the work of the European Court of Au- ditors. Alex Brenninkmeijer Member of the European Court of Auditors