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The EU Law of Economic and Monetary Union - Oxford Scholarship Online
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The EU Law of Economic and Monetary Union

Fabian Amtenbrink, Christoph Herrmann, and René Repasi

Abstract

Presenting a sweeping analysis of the legal foundations, institutions, and substantive legal issues in EU monetary integration, The EU Law of Economic and Monetary Union serves as an authoritative reference on the legal framework of European economic and monetary union. The book opens by setting out the broader contexts for the European project - historical, economic, political, and regarding the international framework. It goes on to examine the constitutional architecture of EMU; the main institutions and their legal powers; the core legal provisions of monetary and economic union; and the r ... More

Bibliographic Information

Print publication date: 2020 Print ISBN-13: 9780198793748
Published to Oxford Scholarship Online: March 2021 DOI:10.1093/oso/9780198793748.001.0001

Authors

Affiliations are at time of print publication.

Fabian Amtenbrink, editor

Christoph Herrmann, editor

René Repasi, editor

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Contents

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Front Matter

Title Pages

List of Contributors

Preface

Table of Cases

Table of Legislation

1 Introduction

Part I Interdisciplinary Foundations

2 History of an Incomplete EMU

Emmanuel Mourlon-Druol

3 The Economics of European Monetary Integration: The Pros and Cons of EMU Membership

Donato Masciandaro and Davide Romelli

4 The Politics of Economic and Monetary Union

Erik Jones

Part II International Legal Framework

5 The International Dimension of EMU: The Interplay Between the Global Financial Stability Architecture and the European Union

Shawn Donnelly and Ramses Wessel

6 External Relations of the EU and Euro Area in the field of EMU

Cremona Marise and Leino-Sandberg Päivi

7 International Agreements of The Eu in The Field of EMU

Cremona Marise and Leino-Sandberg Päivi

Part III Constitutional Foundations

8 The Architecture of EMU

Cornelia Manger-Nestler

9 Objectives of The EMU

Dariusz Adamski

10 Substantive Legal Obligations of EUro area Member States

Charles Proctor

11 EMU as Constitutional Law

Bruno De Witte

12 Non-EU Legal Instruments (EFSF, ESM, AND Fiscal Compact)

Francesco Martucci

13 The EMU and the European Social Dimension

Francesco Costamagna

Part IV Institutions and Bodies

14 The European Central Bank

Michael Ioannidis

15 ESCB/Eurosystem/National Central Banks

Julian Langner

16 EU Institutions Representing Member States’ Governments

Eugenia Dumitriu Segnana and Alberto de Gregorio Merino

17 European Parliament and National Parliaments

René Repasi

18 The European Commission

Kees van Duin

19 European Monetary Union and the Courts

Daniel Sarmiento and Moritz Hartmann

20 The Institutional design of Financial Supervision and Financial Stability

Jennifer Payne

Part V Monetary Union

21 Euro As Legal Tender (and Banknotes)

Robert Freitag

22 Monetary Policy (objectives and instruments)

Klaus Tuori

22 Foreign-exchange operations of the ECB and exchange-rate policy

Alexander Thiele

24 Payment Systems

Phoebus L Athanassiou

25 ERM II

Ulla Neergaard

26 Prudential supervisory tasks (Article 127(6) TFEU, monetary policy vs prudential supervision): ‘Kissing awake the Sleeping Beauty provision’

Rosa M Lastra and Georgios Psaroudakis

Part VI Economic Union

27 Economic Policy Coordination: Foundations, Structures, and Objectives

Jean-Paul Keppenne

28 Eu Fiscal Governance on The Member States: The Stability and Growth Pact and Beyond

Jean-Paul Keppenne

29 Non-fiscal surveillance of the Member States

Jean-Paul Keppenne

30 Policy Conditionality attached to ESM financial assistance

Ulrich Forsthoff and Nathalie Lauer

Part VII Financial Assistance

31 The IMF’s Financing Role in Europe During the Global Financial Crisis

Katharine Christopherson and Wolfgang Bergthaler

32 EU Financial Assistance

Vestert Borger

33 Financial Assistance to Euro Area Members (EFSF and ESM)

Ulrich Forsthoff and Jasper Aerts

34 Financial Assistance to Non-Euro Area Member States

Alexander Thiele

Part VIII Financial Markets and Banking Union

35 Financial Market Integration and EMU

Kern Alexander

36 Financial market regulation in the internal market

Kern Alexander and Vivienne Madders

37 Banking Supervision

Ohler Christoph

38 Banking Resolution: The EU Framework Governing the Resolution of Credit Institutions

Christos V Gortsos

39 State Aid For Financial Institutions

Till Müller-Ibold

Part IX Crisis and Future of EMU

40 The Euro Area In Crisis, 2008–18

Christos Hadjiemmanuil

41 The Legality Of Responses To The Crisis

Alicia Hinarejos

42 EMU Reform

Paul Craig and Menelaos Markakis

End Matter

Bibliography

Index