There was a time, not too long ago, when the introduction of the euro was hailed as a tremendous success. Yet the Eurozone now faces an existential crisis. A number of member states have, since 2008, been prevented from defaulting on their sovereign debt only by massive bailouts. Greece has...

Alongside the unprecedented political and economic crises which hit Ireland with the collapse of its economy in 2008, were legal confrontations which tested the boundaries of its Constitution. Ireland's dualist constitutional heritage was confronted by unique challenges, borne of unprecedented...

The chapter contributes to the analysis of the process of human rights and social cohesion erosion set in motion by austerity programmes in the Eurozone and to enquire about how this experience influences the current debate on the Eurozone governance reform in the context of COVID-19 crisis. The...

While many central banks around the world have pursued quantitative easing programmes in recent years responding to the weak inflation outlook, the European Central Bank (ECB) faces unique legal constraints with respect to its Public Sector Purchase Programme (PSPP) launched in 2015. Most...

The introduction of collective action clauses in advanced economies' sovereign bonds is an understudied phenomenon. An important concern is whether these clauses produce segmentation, pushing apart the price of those bonds issued with and without collective action clauses (CACs). This paper uses...

The introduction of collective action clauses in advanced economies' sovereign bonds is an understudied phenomenon. An important concern is whether these clauses produce segmentation, pushing apart the price of those bonds issued with and without collective action clauses (CACs). This paper uses...

Reflections on context, transparency, review and culture of the Single Supervisory Mechanism (SSM), the Euro Area system of prudential supervision of banks, three years after its start. The paper discusses the 'cascade' of banking regulation (from global standards through EU legislation and...

The paper examines the administrative and judicial review of the ECB decisions in the banking supervisory field. In the first part the core characteristics of the functioning of the internal administrative review carried out by the Administrative Board of Review (ABoR) are described, and the...