In October 2008, Iceland's banking system collapsed. Within a week, the three major banks comprising ninety percent of the Icelandic banking system had failed. A long-running dispute on who ought to pay for the deposits in failed Icelandic banks has poisoned relations between Iceland, the United...

Since its establishment in 1998, the European Central Bank (ECB) has come of age. During this period, its legal framework has been put to the test sufficiently to allow for a proper assessment of the working of this system in practice. This article focuses on the relationship between the ECB and...

The WP analyses the changes to the law of Economic and Monetary Union (EMU) in response to the crisis, and discusses these major changes, their legal form, and the judicial challenges to them. The adaption of economic governance of the EU resulted in incisive regulation of Member States'...

Article 127(4) and Article 282(5) of the Treaty on the Functioning of the European Union (the TFEU) and Article 4 of the Protocol (No. 4) on the Statute of the European System of Central Banks and of the European Central Bank (the ESCB/ECB Statute) establish legal grounds for consulting the...

The latest election for the European Parliament in May 2014 resulted in substantial gains for EU-skeptical parties across the EU. We argue on economic grounds that more flexible integration within the EU could increase the support for the integration process across the heterogeneous group of...

The present study is structured in two Chapters – the first containing three Sections and the second two – as follows:(a) Chapter One focuses on the European Central Bank (ECB) within the European System of Central Banks (ESCB):• the first two Sections (A and B) briefly discuss the...

The present University notes contain a brief presentation and analysis of the legal framework governing the single monetary policy in the euro area, as this developed from the establishment of the Eurosystem until today. It is structured in four Sections: Section A deals with the definition of...