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This is your first post. Edit or delete it and start blogging! Money is an externaliy, not the creation of the State, and certainly not a commodity entailing special features. Hi, this is a comment. Get every new post delivered to your Inbox.

The EU as a democracy; what does the Lisbon treaty change? Of course there is a substantial academic literature on the European Union as a democracy, much of it developed and advanced by American scholars. This is a discourse which will no doubt continue on both sides of the Atlantic as the provisions of the Lisbon Treaty take effect and as the European Union responds to new internal and external challenges. What does the Lisbon Treaty change in the democratic functioning of the EU? Well in short, a lot.