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in terms of its own accountability and policy outcomes. Emboldened by the Spitzenkandidaten process – which established … against which to measure the Commission’s success –, but also in terms of its own democratic and political accountability vis … hold it accountable. While the very notion of political accountability is foreign to the EU constitutional setting – as …
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The prolonged crisis exposed the vulnerability of a monetary union without a banking union. The Single Supervisory Mechanism (SSM), which started operating in November 2014, is an essential step towards restoring banks to health and rebuilding trust in the banking system. The ECB is today...
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. This paper shows that such economic transparency could give central banks greater flexibility to respond to macroeconomic …
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