While the creation of new umbrella funds, such as the InvestEU Programme, may pursue laudable public policy objectives, we should avoid undermining established Union methods. Indeed, we should not succumb to the appeal of relying on secondary legislation in areas where primary law is unambiguous.
Concluding remarks As we take further steps to complete EMU, we should keep in mind two principles that are at the heart of effective policy in a democratic society: namely, the effective alignment of liability and control, and the discharge of democratic control or accountability at the level at which policy decisions are taken.