The European System of Central Banks: An Autonomous Actor?

Beschreibung

With the communitarisation of monetary policy and the establishment of an European Central Bank (ECB), the idea of insulating a central bank from the political process was realised to a degree yet undreamed of. The result, the asymmetric construction of Economic and Monetary Union (EMU), makes it difficult to democratically legitimize the exercise of power by the autonomous actor ECB. In this regard, EMU can be conceived as a parable for the respective difficulties of the European Union. As a still rare example for a combination of juridical and economic point of view, this volume makes this challenge subject of discussion. By means of comparison with the American central banking system, the book probes the ECB's institutional design, attempts to define the ECB's status in EMU, and looks for ways towards a more democratically legitimated economic and monetary policy.

Autor*in

Barbara Dutzler

Themen in »The European System of Central Banks: An Autonomous Actor?«

Decision-Making Process ESCB Economic and Monetary Union European Integration European Law FED Federal Reserve System

Stimmen zu »The European System of Central Banks: An Autonomous Actor?«

". Insg empfiehlt sich die Studie als sehr präzise und umfassende Erörterung wesentlicher institutioneller Elemente des ESZB und deren praktischer Handhabung." Juristische Blätter 5/2004 ". sehr ausführliche Analyse." Bulletin Quotidien Europe 7/2003
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