This paper begins with the concept of central bank independence and focuses its argument around one of its major drawbacks the potential absence of accountability by the monetary authority. Then, beyond defining an alternative legal central bank independence index, we analyse the current...

The economic policy framework of the Euro area displays significant limitations. While these deficiencies are a result of the design of the Euro project, they have become increasingly evident during the current economic crisis. The European Commission and the Council have put forward a set of...

On January 14 2000, the Commission sued the ECB on grounds of infringement of a regulation which concerns the investigations conducted by the European Anti-Fraud Office. This, for the time being, is the culminating point in the controversy between the Commission and the ECB, which reflects the...

This article compares today's euro-zone debt crisis, in terms of economic diplomacy, with the earlier crisis in Latin America. Four features served to reconcile the tensions and resolve the 1980s' crisis. A balance was preserved between debtor countries and creditor banks. Though initially...