The paper studies the External Commercial Borrowing policy being followed by the Government of India in order to let the Indian entities access the foreign funds. The law governing foreign exchange is Foreign Exchange Management Act, 1999 but no express mention of the ECB instruments is there,...

The aim of the present article is twofold. Firstly, to put the German Federal Constitutional Court (i.e., the BverfG ) judgment into the context of a drawn-out conflict between the German Republic and the European Union regarding the setting up of a crisis management tool in the area of monetary...

The Eurosystem is mandated to safeguard price stability according to Article 127 TFEU. Based on a theoretical and policy-oriented approach, this article sheds light on a second public good with enormous practical relevance both for financial markets and institutions as well as for the general...

This paper analyses the European Central Bank's (ECB) advisory role related to proposed Community and national legislation falling within ECB's fields of competence, with a particular focus on the consultation procedure. The consultation procedure involves parties that are under an obligation to...

The EC Treaty obliges Community and (both functionally and geographically decentralized) national authorities to consult the ECB before adopting any legislation in its fields of competence. Failure to consult the ECB can render any disputed rules void. This paper explores the relevant primary...

In the modern lexicon, money is pure instrumentality, a colorless medium that transparently expresses real value. Contrary to that trope, however, we can get “inside” money: we can reconnoiter it as a structure entailing value that is engineered by certain societies. Taking a...

The modern approach to the market as a place with autonomy depends on a certain view of money. According to that view, money is a neutral technology that expresses individual choices made about real goods and services. But the controversies over money that regularly arise in political...

This article recaps a conference on monetary and financial law held at the Bank of England. It reflects on international regulatory reform, the institutional structure of international monetary and financial law, resolution, and alternative currencies, payment systems and finance providers