scholarly journals International legal and national regulation of digital currency: the experience of China and the EU

2021 ◽  
pp. 82-86
Author(s):  
M. R. Saliya
Keyword(s):  
International Organizations ◽  
European Central Bank ◽  
Legal Regulation ◽  
Central Banks ◽  
The European Union ◽  
Bank Of China ◽  
National Regulation ◽  
European Central ◽  
Digital Currency ◽  
The Eu

The article discusses the issue of legal regulation of the digital currency of central banks. The experience of international organizations, as well as the fi rst steps in this direction from China, represented by the People’s Bank of China and the European Union, represented by the European Central Bank, are examined.

The European Central Bank

2018 ◽  
Author(s):  
Chiara Zilioli ◽  
Phoebus Athanassiou
Keyword(s):  
European Union ◽  
Central Bank ◽  
Monetary Union ◽  
European Central Bank ◽  
Central Banks ◽  
The European Union ◽  
European Central ◽  
European System ◽  
The Eu

The provisions on Monetary Union (MU), of the Treaty on the functioning of the European Union (TFEU or the Treaty), as well as the Statute of the European System of Central Banks and of the European Central Bank (the Statute), are important in their own right, and are amongst those from which any student of the European Union (EU) can learn a great deal with regard to the EU.

scholarly journals Central banking and the infrastructural power of finance: the case of ECB support for repo and securitization markets

2018 ◽  
Vol 18 (2) ◽  
pp. 395-418 ◽  
Author(s):  
Benjamin Braun
Keyword(s):  
Financial Markets ◽  
European Central Bank ◽  
Central Banks ◽  
Central Banking ◽  
State Agency ◽  
Central Position ◽  
European Central ◽  
Transaction Tax ◽  
The Eu ◽  
Infrastructural Power

Abstract The pre-crisis rise and post-crisis resilience of European repo and securitization markets represent political victories for the interests of large banks. To explain when and how finance wins, the literature emphasizes lobbying capacity (instrumental power) and the financial sector’s central position in the economy (structural power). Increasingly, however, finance also enjoys infrastructural power, which stems from entanglements between specific financial markets and public-sector actors, such as treasuries and central banks, which govern by transacting in those markets. To demonstrate the analytical value of this perspective, the article traces how the European Central Bank (ECB), motivated by monetary policy considerations, has shaped post-crisis financial policymaking in the EU. It shows that the ECB has played a key part in fending off a financial transaction tax on repos and in shoring up and rebuilding the securitization market. With market-based forms of state agency on the rise, infrastructural entanglement and power shed new light on the politics of finance.

scholarly journals Legal Foundations for Exporting Dual-Use Goods from the European Union

Lex Russica ◽  
2021 ◽  
pp. 44-56
Author(s):  
V. Yu. Slepak
Keyword(s):  
Legal Regulation ◽  
The European Union ◽  
Dual Use ◽  
Member States ◽  
National Regulation ◽  
Eu Member States ◽  
Legal Obligations ◽  
Council Regulation ◽  
The One ◽  
The Eu

The paper is devoted to the examination of the main aspects of the legal regulation of exporting dual-use goods in the EU under Council Regulation (EU) No. 428/2009 of 5 May 2009. The main objective of the instrument under consideration is to establish a system common for EU Member States to control effectively the export of dual-use goods in order to ensure compliance of EU member States with international obligations, especially with regard to the regime of non-proliferation of nuclear weapons. The author concludes that the current Regulation on export of dual-use goods is a logical extension and continuation of the EU instruments regulating arms trade with the third countries that pursues the same objectives, i.e. to implement the international legal obligations of the EU Member States assumed under multilateral control and non-proliferation regimes. Under the selected regulatory model, the EU failed to take the opportunity of replacing relevant national regulation; the Dual-Use Export Regulation defines a general framework, leaving it to Member States to take certain measures aimed at promoting an EU-wide approach. It is up to Member States to establish an appropriate control system for transactions, involving dual-use products, carried out by their nationals and legal entities. On the one hand, it allows the authorities of Member States, due to their proximity to economic entities, to take into account to a greater extent the characteristics of the national market. On the other hand, such a system leads to discrepancies in the practice of applying, in theory at least, uniform measures for the whole Union. Thus, even with the legal basis for independent and exclusive regulation of the export of dual-use products, the EU has faced with the unwillingness of Member States to adopt such restrictions and had to focus on coordinating the activities of Member States, leaving them with a considerable degree of independence and autonomy.

4. An Institutional Anatomy and Five Policy Modes

2017 ◽  
Author(s):  
Helen Wallace ◽  
Christine Reh
Keyword(s):  
European Central Bank ◽  
Institutional Design ◽  
Policy Coordination ◽  
The European Union ◽  
European Central ◽  
Regulatory Mode ◽  
Court Of Justice ◽  
National Institutions ◽  
Patterns Of Interaction ◽  
The Eu

This chapter examines the European Union’s institutional design and how its institutions interact with national institutions in five different policy modes. It first considers the evolving role and internal functioning of the European Commission, Council of the EU, European Council, European Parliament, and Court of Justice of the European Union (CJEU). It also discusses quasi-autonomous agencies, in particular the European Central Bank (ECB), institutionalized control and scrutiny, and non-state actors. It concludes with an analysis of five EU policy modes that capture the different patterns of interaction between EU and national institutions: the classical Community method, the regulatory mode, the distributional mode, the policy coordination mode, and intensive transgovernmentalism.

4. An Institutional Anatomy and Five Policy Modes

2020 ◽  
pp. 67-106
Author(s):  
Helen Wallace ◽  
Christine Reh
Keyword(s):  
European Union ◽  
European Central Bank ◽  
Institutional Design ◽  
Policy Coordination ◽  
European Council ◽  
The European Union ◽  
European Central ◽  
Regulatory Mode ◽  
Patterns Of Interaction ◽  
The Eu

This chapter examines the European Union’s institutional design and how its institutions interact with national institutions in five different policy modes. The chapter first considers the evolving role and internal functioning of the European Commission, Council of the EU, European Council, European Parliament, and Court of Justice of the European Union (CJEU). It also discusses quasi-autonomous agencies, in particular the European Central Bank (ECB), institutionalized control and scrutiny, and non-state actors. The chapter then offers an analysis of five policy modes that capture the different patterns of interaction between the EU and its member states: the classical Community method, the regulatory mode, the distributional mode, policy coordination, and intensive transgovernmentalism.

2. The Foundations of European Union Intellectual Property Law

2019 ◽  
pp. 36-66
Author(s):  
Justine Pila ◽  
Paul L.C. Torremans
Keyword(s):  
European Union ◽  
European Central Bank ◽  
Legal Order ◽  
Property Law ◽  
The European Union ◽  
European Central ◽  
Court Of Justice ◽  
Union Section ◽  
The Eu

This chapter discusses the role of the EU in the IP field before and since the introduction of the Lisbon Treaty. To that end it introduces the EU legal order itself, including its founding Treaties, institutions, and authority to act (competence), with a focus on IP. The chapter is organized as follows. Section 2.2 traces the establishment of the European Economic Community and its development to the European Union. Section 2.3 describes the seven EU institutions: the European Council, European Commission, European Parliament, Council, Court of Justice of the EU, European Central Bank, and Court of Auditors. Section 2.4 explains the legal authority of the EU, in relation particularly to IP. Section 2.5 covers EU measures and their legal effects. And Section 2.6 discusses the actions of the Court of Justice.

2. The EU institutions

2020 ◽  
pp. 33-60
Author(s):  
Sylvia de Mars
Keyword(s):  
European Union ◽  
Member State ◽  
European Central Bank ◽  
Transition Period ◽  
The European Union ◽  
European Central ◽  
Article 50 ◽  
The Uk ◽  
Council Of Ministers ◽  
The Eu

This chapter discusses the different institutions that make up the ‘EU government’. It begins by explaining the Article 50 TEU (Treaty of European Union) process, which sets out how a Member State can leave the EU. The chapter then describes the European Council, the European Commission, the Council of Ministers, the European Parliament, and the Court of Justice of the European Union (CJEU). The two other EU institutions set out in Article 13 TEU include the European Central Bank and the Ombudsman. The chapter then considers how the roles of the EU institutions in the UK will change over the next few years following Brexit. It studies the Withdrawal Agreement and assesses what happens after the so-called transition period.

3. The institutions of the European Union

2021 ◽  
pp. 42-78
Author(s):  
Margot Horspool ◽  
Matthew Humphreys ◽  
Michael Wells-Greco
Keyword(s):  
European Union ◽  
European Central Bank ◽  
European Council ◽  
The European Union ◽  
Investment Bank ◽  
European Investment Bank ◽  
European Central ◽  
European Investment ◽  
Committee Of The Regions ◽  
The Eu

This chapter discusses the role and composition of the institutions of the EU. These include the European Council, the Council, the Commission, the European Parliament, the Court of Justice of the European Union (CJEU) and the General Court, the Court of Auditors, the European Economic and Social Committee (EESC), the Committee of the Regions (COR), the European Investment Bank and the European Central Bank. This chapter also discusses the EU’s associated bodies or agencies as well as their respective roles and the ways in which they interrelate with the EU institutions.

The ECB as Lender of Last Resort in the Eurozone? An analysis of an optimal institutional design of Emergency Liquidity Assistance competence within the context of the Banking Union

2019 ◽  
Vol 26 (5) ◽  
pp. 628-668
Author(s):  
Sara Elisa Dietz
Keyword(s):  
Central Bank ◽  
Financial Stability ◽  
European Central Bank ◽  
Institutional Design ◽  
The United States ◽  
Central Banks ◽  
Banking Union ◽  
The European Union ◽  
Lender Of Last Resort ◽  
European Central

The latest financial crises in Europe and the United States have reminded us of the importance of the role of central banks as Lender of Last Resort. This article examines the current legal framework in the European Union with regard to the allocation of Lender of Last Resort competence, which until now has been exercised by the national central banks in the Eurozone. The new Emergency Liquidity Assistance Agreement 2017 sustains this institutional design, leaves the Emergency Liquidity Assistance competence with the national central banks and specifies the cooperation between the European Central Bank and the national central banks with regard to the veto-option of the European Central Bank to national Emergency Liquidity Assistance operations. Against this background, the paper discusses whether the current legal competence structure of the European and Monetary Union would also allow for more authority of the European Central Bank with regard to Emergency Liquidity Assistance powers. The paper concludes there is a sufficient legal basis in the monetary policy and financial stability mandate of the European Central Bank to allow it to grant Emergency Liquidity Assistance at least with regard to ‘significant’ banks, as defined under the current European Banking Supervision regime.

scholarly journals Central banking and the infrastructural power of finance: The case of ECB support for repo and securitization markets

2017 ◽  
Author(s):  
Benjamin Braun
Keyword(s):  
Financial Markets ◽  
European Central Bank ◽  
Central Banks ◽  
Central Banking ◽  
State Agency ◽  
Central Position ◽  
European Central ◽  
Transaction Tax ◽  
The Eu ◽  
Infrastructural Power

The pre-crisis rise and post-crisis resilience of European repo and securitisation markets represent political victories for the interests of large banks. To explain when and how finance wins, the literature emphasises lobbying capacity (instrumental power) and the financial sector’s central position in the economy (structural power). Increasingly, however, finance also enjoys infrastructural power, which stems from entanglements between specific financial markets and public-sector actors, such as treasuries and central banks, that govern by transacting in those markets. To demonstrate the analytical value of this perspective, the article traces how the European Central Bank, motivated by monetary policy considerations, has shaped post-crisis financial policymaking in the EU. It shows that the ECB has played a key part in fending off a financial transaction tax on repos and in shoring up and rebuilding the securitisation market. With market-based forms of state agency on the rise, infrastructural entanglement and power shed new light on the politics of finance.

Sign in / Sign up

Export Citation Format

Share Document