The rise of the untransparent 'Eurogroup'

The Eurogroup has emerged as a key body in the EU's evolving economic governance, playing a major role in the current dispute with Greece over further bailout money, yet it is democratically accountable to no one.

Legally-speaking the monthly forum for eurozone finance ministers has a narrow remit: It is not an EU institution and it cannot adopt legally binding decisions.

But the scale of the economic and financial crisis of the recent years and the resulting swathe of laws to try...