The European Central Bank and the European macroeconomic constitution : from ensuring stability to fighting crises

The book is about money, central banking and constitutions. It explains how the European Central Bank was established to ensure stability and prosperity for the euro area. The ECB was guided and controlled by a coherent European Macroeconomic Constitution. However, this model has failed during recur...

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Bibliografische gegevens
Hoofdauteur: Tuori, Klaus
Formaat: Livre numérique
Taal:Anglais
Gepubliceerd in: Cambridge ; New York : Cambridge University Press 2022.
Cambridge :
Reeks:Cambridge studies in European law and policy
Online toegang:Accès sur la plateforme Cambridge University Press
Accès sur la plateforme ISTEX (Corpus CUP Droit)
Accès Université d'Orléans
Opmerking: Cambridge University Press - CUP - Corpus Droit (Licence nationale)
Autres localisations: Voir dans le Sudoc
Edition sous un autre format:• The European Central Bank and the European Macroeconomic Constitution, from Ensuring Stability to Fighting Crises, Klaus Tuori, 2022, Cambridge, Cambridge University Press, 1 volume (280 pages), Cambridge Studies in European Law and Policy, 978-1-108-48874-7
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520 |a The book is about money, central banking and constitutions. It explains how the European Central Bank was established to ensure stability and prosperity for the euro area. The ECB was guided and controlled by a coherent European Macroeconomic Constitution. However, this model has failed during recurring crises, and the ECB has started to act as the euro area fire brigade. Consequently, it is pushing the boundaries of monetary policy, and with that challenging the accountability mechanisms and fundamentally also the democratic legitimacy of the EMU. The book sheds light on this complex economic-constitutional setting with a view on the future. The imbalance between various new operations and a single price stability objective is difficult to remedy. New objectives of financial stability, economic adjustment and environmental sustainability can cause fundamental ruptures between the ECB's formal role and its actions, and they also dangerously overburden monetary policy moving forward with substantial risks. 
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