Disorder and Discipline: The ECB’s Transmission Protection Instrument

Insight

Abstract: In the asymmetric Economic and Monetary Union “market discipline” has played an important and controversial role to compensate for the weakness of the legal framework as regards fiscal affairs. Both as an empirical matter of market behaviour and as a matter of the “no bail-out” clauses of arts 123 and 125 TFEU being effectively undermined...

Ernests Bernis (Appeal) and Judicial Review by the CJEU of Non-Resolution Decisions in the EU Banking Union: No Standing for the Shareholders of the Relevant Entity

Insight

Abstract: With the judgment of 24 February 2022 in case C-364/20 P Bernis and Others v SRB ECLI:EU:C:2022:115, the European Court of Justice has dismissed the appeal lodged by Ernests Bernis, Oļegs Fiļs, OF Holding SIA and Cassandra Holding Company SIA (shareholders of ABLV Bank) against the order of the General Court rendered on 14 May...

The Court of Justice’s Self-restraint of Reviewing Financial Assistance Conditionality in the Chrysostomides Case

Insight

Abstract: In the Chrysostomides case (joined cases C-597/18 P, C-598/18 P, C-603/18 P and C-604/18 P Council v Chrysostomides & Co. and Others ECLI:EU:C:2020:1028), the Court of Justice (ECJ) confirmed its previous finding that the Eurogroup has only an informal and intergovernmental nature. Building on the cases Ledra...

A Critical Analysis on the European Union’s Measures to Overcome the Economic Impact of the COVID-19 Pandemic

Insight

Abstract: The EU has fast reacted in adopting a so-called Next Generation EU Recovery Plan (NGEU) and a 2021-2027 Multiannual Financial Framework (MFF) with the aim of overcoming the consequences of the disruptive COVID-19 pandemic for citizens’ health and businesses across Europe. However, there have been several political discussions during the...

The PSPP Judgment of the German Federal Constitutional Court: Throwing Sand in the Wheels of the European Central Bank

Insight

Abstract: After describing the measures adopted by the European Central Bank (ECB) to mitigate the crisis caused by the COVID-19 pandemic in the euro area, the Insight focusses on the repercussions of the controversial judgment adopted by the German Federal Constitutional Court (BVerfG) on 5 May 2020. It is contended that the criteria...

Quand l’urgence de santé publique fait son entrée parmi les catastrophes en droit de l’UE

Insight

Abstract: In response to the COVID-19 outbreak, EU’s reaction is mixed. It partly takes the form of a financial assistance to the Member States. Many funds are mobilized, for example the European Union Solidarity Fund which was set up to respond to major natural disasters and express European solidarity to EU countries and countries involved in...

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