An authoritative reference work on the legal framework of European economic and monetary union, this book comprehensively analyses the legal foundations, institutions, and substantive legal issues in EU monetary integration.

Presenting a sweeping analysis of the legal foundations, institutions, and substantive legal issues in EU monetary integration, The EU Law of Economic and Monetary Union serves as an authoritative reference on the legal framework of European economic and monetary union. The book opens by setting out the broader contexts for the European project - historical, economic, political, and regarding the international framework. It goes on to examine the constitutional architecture of EMU; the main institutions and their legal powers; the core legal provisions of monetary and economic union; and the relationship of EMU with EU financial market and banking regulation. The concluding section analyses the current EMU crisis and the main avenues of future reform.

This book provides a commentary on the law of the EU related to the Monetary Union. It contains a comprehensive analysis of all provisions of the Statute of the European System of Central Banks (ESCB) and the European Central Bank (ECB). In addition, the book also analyses all provisions of the Treaties themselves which regulate the ESCB and the ECB. This analysis is supplemented by commentaries on other Protocols which contain relevant rules for the Monetary Union. In essence, all relevant statutory rules governing the euro and its key monetary authority, the European Central Bank, are unfolded and explained in one volume. This gives the book a unique position in the legal literature on the law of the EU. With contributions by renowned academics and practitioners, this book is an expanded and updated translation of the 2013 German commentary, EWU Kommentar zu Europäischen Währungsunion (Mohr Siebeck) and is an invaluable resource for practitioners and academics alike who are looking for a provision-by-provision commentary on the laws governing the European Monetary Union.

The Commentary on the Treaty on the Functioning of the European Union (four volumes) is a major European project that aims to contribute to the development of ever closer conceptual and dogmatic standpoints with regard to the creation of “Europeanised research on Union law”. Following on from the Commentary on the Treaty on European Union, this book presents detailed explanations, article by article, of all the provisions of the TFEU, discussing the application of Union law in the national legal orders and its interpretation by the Court of Justice of the EU. The authors are academics and practitioners from all across Europe and different legal traditions, some from a constitutional law background, others experts in the field of international law and EU law. Reflecting the various approaches to European legal culture, this book promotes a system concept of European Union law toward more unity notwithstanding its rich diversity grounded in national traditions.

This book offers the first comprehensive legal study dedicated to the understanding of the Danish EU opt-outs. The impact of these is significant, falling as they do within Union citizenship, the euro, defense cooperation and the Area of Freedom, Security and Justice. Through a re-examination of the opt-outs individually, collectively and temporally, the book sheds light on their legal design and their interplay between international law, EU law and national law. This pioneering book takes a legal-doctrinal approach, which provides readers with a solid understanding of the opt-outs. Academics, judges and European Union civil servants will find this invaluable.

Since the outbreak of the 2008 financial crisis, European Union (EU) institutions and Member States have engaged in a major effort to repair the architecture of economic governance of the European Economic and Monetary Union (EMU). This book takes as its starting point the unclear notion of financial stability, which only recently has received a more detailed legal analysis. It examines the evolution of the concept of financial stability during the financial crisis and provides a conceptual framework in order to demonstrate that financial stability has become a foundational objective in Europe and has set a new normative framework in EU law and policy. Arguing that financial stability is a foundational objective in EU law and policy based on certain normative instruments, this ground-breaking book provides an in-depth and original understanding of the newly developed framework to attain supranational financial stability. In its analysis of the legal implications of these new instruments, the study examines topics and issues such as the following: - the concept and normative instruments of financial stability at European level; - the renewed economic governance in Europe; - the financial assistance mechanisms developed in Europe; - the new regulatory environment for banks at European level; - the Single Supervisory Mechanism and the role of the European Central Bank (ECB) therein; and - the new framework for banking resolution, with specific focus on the Single Resolution Mechanism. The author shows in detail how an appropriate level of supranational regulation, supervision, burden-sharing and rescue measures strengthen financial stability. Thereby, the book will appeal to officials in EU institutions and agencies as well as lawyers and academics in EU law and in banking/financial law to gain a clear understanding of role of financial stability and its normative instruments in EU law and policy. Gianni Lo Schiavo is currently working as a lawyer at the ECB. He obtained a PhD in EU Law at King's College, London, and has written numerous articles and chapters in EU administrative law, EU financial/banking law and EU competition law.

With the White Paper on the Future of Europe, the European Commission had launched a debate on fundamental reforms of the Union structures in 2017. A total of five reform scenarios ranged from a reduction and focusing of the Union’s competences to increased integration in the sense of a United States of Europe. However, the White Paper did not have any consequences; none of the reform scenarios presented was implemented. However, current global challenges in the areas of health, climate change and energy resources as well as the shift in the global balance of power and related security issues demonstrate the increasing importance of a strong and united Europe. The idea of an “ever closer union”, as laid down in the preamble of the 1992 EU Treaty, could experience a renaissance. Against this background, the 13th Network Europe Conference addressed the importance of the integration project in times of global crises and the challenges in various policy areas, as well as the EU’s relations with its eastern and southern neighbors and its role vis-à-vis global actors such as China and Russia. This publication contains the conference contributions.

This textbook provides an explanatory and contextual view of EU law and its impact in a simple and easily accessible yet analytical manner. It illustrates the power struggles behind a given EU law act, to allow for full understanding of how it developed. This allows the student to understand EU law as a force in the increasingly globalized world, rather than as technical and doctrinal subject. The textbook begins by setting the scene of EU integration, how we got there and why it is important. Thereafter it explores the constitutional framework for understanding EU law in context and by discussing inter alia, division of competences, accountability, legitimacy, enforcement, human rights, participation rights and so on as well as the general principles of the EU and citizenship rights. Subsequently the textbook explores the essentials of the internal market as well as the principles of competition law. It also discusses free movement rights and links to the growing “Area of Freedom, Security and Justice”. Finally the textbook offers fresh insights on the external dimension of EU law and the role of the EU in the world today before concluding with an outlook on the future of EU law including the consequences of events such as Brexit.

This book analyzes the effects of the recent crisis and evaluates potential solutions to the gridlock that is currently dominating the Eurozone and the European Union, concerning both the monetary policy and the budgetary and fiscal policy. The timely study highlights the main challenges that European political leaders will face in the months to come. Furthermore, its interdisciplinary approach embraces economic, financial and legal perspectives, so as to ensure the global coherence and comprehensiveness of its content. The contributors to this volume are prominent experts from the areas of Economics, Finance, Law, and Political Science, offering readers a multifaceted view of the topics discussed.