scholarly journals Judicialization of Economic and Monetary Union: between a rock and a soft place?

2021 ◽  
pp. 73-106
Author(s):  
Nuno Albuquerque Matos
Keyword(s):  
European Union ◽  
Public Sector ◽  
Central Bank ◽  
Monetary Union ◽  
European Central Bank ◽  
Debt Crisis ◽  
Preliminary Ruling ◽  
The Public ◽  
European Central ◽  
Court Of Justice

The European Central Bank has been active since the sovereign debt crisis that struck European Union Member States by putting in place several asset-purchasing programmes such as Outright Monetary Transactions and Public Sector Purchase Programme. As much as these decisions have proven the pivotal importance of this institution within the monetary union, they have also spurred controversy on potentially having exceeded the competences attributed to the Union. The german federal constitutional court heard challenges to both and requested the Court of Justice to decide on their validity within the framework of a preliminary ruling. The decision of the former court to declare the Public Sector Purchase Programme ultra vires —in this way countering the preliminary ruling decision— as well as its argumentation could produce many institutional consequences to both the European Central Bank and Court of Justice of the European Union. Finally, it has shown the limits of European Union integration and will inevitably propel discussions on which way to go in the future: it is time for this discussion to come out from courtrooms into the public sphere. Received:  11 November 2020Accepted: 26 May 2021

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.

Introduction

2021 ◽  
pp. 1-28
Author(s):  
Massimo Rostagno ◽  
Carlo Altavilla ◽  
Giacomo Carboni ◽  
Wolfgang Lemke ◽  
Roberto Motto ◽  
...  
Keyword(s):  
Monetary Policy ◽  
Central Bank ◽  
Public Good ◽  
Monetary Union ◽  
European Central Bank ◽  
The Public ◽  
European Central ◽  
The Past ◽  
The Future ◽  
20Th Anniversary

Institutions dedicated to serving the public good must look to the past to learn from experience; and look to the future to prepare, as best they can, for the trials that might lie ahead. The 20th anniversary of Economic and Monetary Union (EMU) offers an opportunity to apply such a perspective to the monetary policy of the European Central Bank (ECB): to evaluate its accomplishments and to learn the lessons that can improve the conduct of its policy in the future....

Article 263 TFEU

2019 ◽  
Author(s):  
Bernhard Schima
Keyword(s):  
European Union ◽  
Central Bank ◽  
European Central Bank ◽  
European Parliament ◽  
Third Parties ◽  
European Council ◽  
The European Union ◽  
European Central ◽  
Court Of Justice

Article 230 EC The Court of Justice of the European Union shall review the legality of legislative acts, of acts of the Council, of the Commission and of the European Central Bank, other than recommendations and opinions, and of acts of the European Parliament and of the European Council intended to produce legal effects vis-à-vis third parties. It shall also review the legality of acts of bodies, offices or agencies of the Union intended to produce legal effects vis-à-vis third parties.

scholarly journals The European Central Bank, machinic enslavement, and the Greek public sector

2016 ◽  
Vol 2 (1) ◽  
pp. 45-61
Author(s):  
Radman Selmic
Keyword(s):  
Public Sector ◽  
Central Bank ◽  
European Central Bank ◽  
Eurozone Crisis ◽  
The Public ◽  
European Central ◽  
Greek Crisis ◽  
Financial Infrastructure ◽  
Policy Measures

This article investigates the role of the European Central Bank (ECB) in transferring financial and moral responsibility for the Eurozone crisis from the private to the public sector. Focusing on Greece, I argue that the ECB constructed the morality of the public debtor in such a way as to make this transfer of responsibility easier and the imposition of austerity measures justifiable. This in part relied on a shift in the ECB’s discourse, which came to define the crisis exclusively in terms of public sector responsibility. However, the ECB also employed a range of non-linguistic policy measures aimed at intervening in the crisis. To interpret these measures I draw on Deleuze and Guattari’s concept of ‘machinic enslavement’, arguing that the ECB contributed to the Greek crisis not only by defining it discursively but also by reshaping the country’s financial infrastructure in crucial ways.

3. The Institutions

EU Law ◽  
2020 ◽  
pp. 59-101
Author(s):  
Paul Craig ◽  
Gráinne de Búrca
Keyword(s):  
European Union ◽  
Central Bank ◽  
European Central Bank ◽  
European Council ◽  
The European Union ◽  
European Central ◽  
Court Of Justice ◽  
The Uk ◽  
Committee Of The Regions ◽  
Academic Debate

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing students with a stand-alone resource. There are seven principal institutions listed in Article 13 of the Treaty on European Union entrusted with carrying out the tasks of the Union: the European Parliament, the European Council, the Council, the Commission, the Court of Justice of the European Union, the European Central Bank, and the Court of Auditors. This chapter considers their respective roles and the way in which they interrelate, and also looks at other important institutions such as the Economic and Social Committee, the Committee of the Regions, and agencies. The UK version contains a further section analysing the relation between the UK and the institutions post-Brexit.

The Law and Norms of the European Central Bank as Sovereign Lender of Last Resort: Crystallising Endogenous Authority

2021 ◽  
pp. 1-29
Author(s):  
David Quinn
Keyword(s):  
Public Sector ◽  
Central Bank ◽  
European Central Bank ◽  
Eurozone Crisis ◽  
Lender Of Last Resort ◽  
European Central ◽  
Court Of Justice ◽  
Economic Reality ◽  
Political Economic ◽  
The Eu

Authority of the European Central Bank (the Bank) over its operational norms in the eyes of market actors – Exogenous and endogenous authority and legitimacy – The reconciliation by the Bank and the Court of Justice of the EU (the Court) of the pre-existing norm and political-economic reality with Article 123 TFEU – Sovereign lender of last resort – Eurozone Crisis – Outright Monetary Transactions (OMT) – Public Sector Purchase Programme (PSPP) – Pandemic Emergency Purchase Programme (PEPP)

Article 265 TFEU

2019 ◽  
Author(s):  
Bernhard Schima
Keyword(s):  
European Union ◽  
Central Bank ◽  
European Central Bank ◽  
European Parliament ◽  
The Other ◽  
European Council ◽  
The European Union ◽  
Member States ◽  
European Central ◽  
Court Of Justice

Article 232 EC Should the European Parliament, the European Council, the Council, the Commission or the European Central Bank, in infringement of the Treaties, fail to act, the Member States and the other institutions of the Union may bring an action before the Court of Justice of the European Union to have the infringement established. This Article shall apply, under the same conditions, to bodies, offices and agencies of the Union which fail to act.

2. The Institutions

2015 ◽  
Author(s):  
Paul Craig ◽  
Gráinne de Búrca
Keyword(s):  
European Union ◽  
Central Bank ◽  
European Central Bank ◽  
European Parliament ◽  
European Council ◽  
The European Union ◽  
European Central ◽  
Court Of Justice ◽  
Committee Of The Regions ◽  
Academic Debate

All books in this flagship series contain carefully selected substantial extracts from key cases, legislation, and academic debate, providing able students with a stand-alone resource. There are seven principal institutions listed in Article 13 of the Treaty on European Union entrusted with carrying out the tasks of the Union: the European Parliament, the European Council, the Council, the Commission, the Court of Justice of the European Union, the European Central Bank, and the Court of Auditors. This chapter considers their respective roles and the way in which they interrelate, and also looks at other important institutions such as the Economic and Social Committee, the Committee of the Regions, and agencies.

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