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...

This article analyzes the standard of review applied by the ECJ in the Gauweiler case concerning the ECB's OMT policy. It argues that the ECJ's focus on rationality and proportionality checks bears great potential for constitutional pluralism in the European Union. Both standards are relatively...

In his seminal 1944 book “The Great Transformation”, Polanyi describes the rise and fall of liberal capitalism during the long 19th century. Many have realized that Polanyi has a lot to tell about the European Union in the aftermath of the financial crisis. The paper begins with an overview...

In his seminal 1944 book “The Great Transformation”, Polanyi describes the rise and fall of liberal capitalism during the long 19th century. Many have realized that Polanyi has a lot to tell about the European Union in the aftermath of the financial crisis. The paper begins with an overview...

This paper argues that the Treaties of Rome and the process of European integration they heralded had a lasting impact on the development of international law. However, their significance is usually misattributed. While European law has had little impact on international legal doctrine, and...

Constitutional pluralism arises in situations where different legal orders claim the ultimate say. Some argue that where different legal orders claim supremacy, logic requires one of them to prevail and the others to succumb. This chapter argues that this is a fallacy. In the current postmodern...

Corona bonds are feasible and important to preserve the European project. We set out a number of principles that might serve as a blueprint for the European institutions. Importantly, Corona bonds could be issued through a new public law entity and include all the safeguards required for the...