The European Semester as Goldilocks: Macroeconomic Policy Coordination and the Recovery and Resilience Facility

How and why did the European Semester end up as main institutional vehicle of Recovery Resilience Facility (RRF)? To what extent this new set-up change power balance among key actors (for example, financial economic versus social affairs actors)? Drawing on historical institutionalism based 28 semi-structured interviews document analysis, our assessment suggests that while were initially side-lined national executives strengthened, over time pendulum is swinging back. The usual are strategically using structures revised a to ‘have say’ in RRF. Having more carrots sticks further strengthening pivotal role Commission. Yet having option submitting plans gives member states options too. EU response Covid-19 pandemic built on, cemented, EU's socio-economic governance architecture.