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The European Central Bank (ECB) has received a lot of criticism for its too little, too late performance to ease market pressures during the economic crisis. At the same time, the ECB and the Federal Reserve (Fed) have managed the new economic realities that have emerged in the international context differently. Despite the criticisms, the European Central Bank is the European Union institution that has assumed more control due to the new model of economic governance of the EU. Why did the Federal Reserve act so nimbly and quickly to calm the markets, while the ECB was so cautious in managing monetary policy? The aim of this paper is to perform a comparative analysis of the management of interest rates and other monetary policy measures undertaken by the Central Bank and the Federal Reserve during the economic crisis, as well as to understand the changes in the context of the ECB and the emergence of its authority within the European Union's economic governance model since 2011. Thus, in order to carry out a scrupulous exposition, we will also limit the time frame of this study to the 2007-2014 period. [ABSTRACT FROM AUTHOR]

Currently, there is an important consensus regarding the fact that regions have lost their attraction in terms of European studies. This leads us to the following paradox: while the metaphor "Europe of the Regions" that had such great resonance in the 1990s has become discredited, the degree of regional commitment with the EU has been constantly rising. Nowadays, the EU is enmeshed in a crisis that is not only of an economic and financial nature, but also a crisis of democracy. In this context, it seems appropriate to 'recover' this study on the role of regions in the European system of governance. This paper alms, on the one hand, to review the evolution of the role of regions in the European system of governance, and on the other, to explore the way in which this role has been dealt with in the European integration literature. Its ultimate goal is to understand what the future prospects are for regions within the integration process. [ABSTRACT FROM AUTHOR]