This paper analyzes the relationship between monetary policy and prudential supervision in the Banking Union. There is no uniform global model regarding the relationship between monetary policy on the one hand, and prudential supervision on the other. Before the crisis, EU Member States followed...

This paper analyzes the relationship between monetary policy and financial stability in the Banking Union. There is no uniform global model regarding the relationship between monetary policy-making on the one hand, and prudential supervision on the other. Before the crisis, EU Member States...

On 15 August 2017, the Bundesverfassungsgericht (BVerfG) referred the case against the European Central Bank's policy of Quantitative Easing (QE) to the European Court of Justice (ECJ). The author argues that this event differs in several aspects from the OMT case in 2015 - in content as well as...

When prudential supervision was put in the hands of the European Central Bank (ECB), it was the political understanding that the ECB should follow a policy of meticulous separation between monetary policy and financial supervision. However, the financial crisis showed that monetary policy and...

While the debate about the needs and merits of cryptocurrency regulation is ongoing, the unprecedented price hikes of cryptocurrencies towards the end of 2017 triggered a somewhat unexpected sort of regulation in the form of public statements by governments and financial supervisors. It kicked...

This paper challenges the thesis that there is an increasing privatization in global governance and that private and public forms of global governance are often equivalent and even indistinguishable. Instead, it is argued that public forms of global governance may serve as a role model for...

The OECD Programme for International Student Assessment (PISA) is probably the most prominent signpost for the internationalization of educational policy. The PISA reports on the performance of secondary school students have become an important factor for educational policy-making in the...

The dominant understanding of the role of human rights in the context of austerity induced by sovereign debt crises has shifted markedly over time. It reflects, and may have influenced, the genealogies of human rights law in the postwar era. Four different paradigms emerge. During the 1970s, the...

The thesis of this paper is a very simple one. Mozambique should not repay the loans which three of its state-owned enterprises took out in 2013-2014 in the context of a gigantic scheme of corruption. I will provide two types of reasons for this conclusion. The first type is rather legal and...

This paper sets out the social rights obligations of both public financial institutions like the World Bank and the IMF, and of private financial institutions like banks. Moving beyond doctrinal analysis, it traces how the World Bank and the IMF have in practice over time considerably improved...