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This paper analyzes the relationship between monetary policy and prudential supervision in the Banking Union. There is no uniform global model regarding the relationship between monetary policy on the one hand, and prudential supervision on the other. Before the crisis, EU Member States followed...
Persistent link: https://www.econbiz.de/10012062103
When prudential supervision was put in the hands of the European Central Bank (ECB), it was the political understanding that the ECB should follow a policy of meticulous separation between monetary policy and financial supervision. However, the financial crisis showed that monetary policy and...
Persistent link: https://www.econbiz.de/10011772854
This paper analyzes the relationship between monetary policy and financial stability in the Banking Union. There is no uniform global model regarding the relationship between monetary policy-making on the one hand, and prudential supervision on the other. Before the crisis, EU Member States...
Persistent link: https://www.econbiz.de/10011706314
On 15 August 2017, the Bundesverfassungsgericht (BVerfG) referred the case against the European Central Bank's policy of Quantitative Easing (QE) to the European Court of Justice (ECJ). The author argues that this event differs in several aspects from the OMT case in 2015 - in content as well as...
Persistent link: https://www.econbiz.de/10011710041
This article analyzes the standard of review applied by the ECJ in the Gauweiler case concerning the ECB's OMT policy. It argues that the ECJ's focus on rationality and proportionality checks bears great potential for constitutional pluralism in the European Union. Both standards are relatively...
Persistent link: https://www.econbiz.de/10013014705