Recent Developments in the Law of the European Central Bank

Zilioli, Chiara; Selmayr, Martin

doi:10.1093/yel/25.1.1

Cited by 8 publications

(5 citation statements)

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“…Scholars examined various themes that included the way in which the ECB set its monetary policies. Who was effectively governing the ECB (Zilioli & Selmayr, 2001)? Although the members of the ECB Governing Council were all supposed to be setting monetary policy based on their personal assessment, with a view to what was in the best interest of the Euro Area as a whole, were they all doing so?…”

Section: The Role Of the Ecb In Emumentioning

confidence: 99%

The European Central Bank

Verdun¹,

Laursen²

2020

Oxford Research Encyclopedia of Politics

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The European Central Bank (ECB) has been in existence for almost 20 years and more if one considers its immediate predecessor the European Monetary Institute (1994–1997). During these two decades the ECB has become an established institution. It secures price stability and further increased its reputation as a lender of last resort during the financial crisis and its aftermath. In the 2010s, in response to the global financial crisis and the sovereign debt crisis, the ECB has also taken on the role of supervisor of the financial system and monitors developments in the Euro Area financial sector. Political science literature on the ECB can be subdivided into different strands. One strand looks at the ECB as just another central bank and hence examines its role as a central bank with the usual instruments. Another strand of literature examines the role of the ECB as an institution that is insufficiently embedded into democratic checks and balances. This perennial criticism of the ECB was born when the European System of Central Banks (ESCB) was created to be independent from political influence. A third strand of the literature is newer and examines the unorthodox steps that the ECB (and other central banks) took, and have taken, to offset the financial crisis and the ensuing economic crisis. An analysis of European integration and the political economy of the Euro Area can contribute to a better understanding of why the ECB has taken a proactive role. The political science research of the ECB is discussed here as well as the various dimensions of research conducted on the ECB.

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Section: The Role Of the Ecb In Emumentioning

confidence: 99%

The European Central Bank

Verdun¹,

Laursen²

2020

Oxford Research Encyclopedia of Politics

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“…Groups can have parent and subsidiary banks in several countries. 20 Zilioli and Selmayr (2001) call it "decentralised centralisation". An example of interinstitutional cooperation is provided by the diversification of research and analysis within a system of central banks.…”

Section: Single Supervision: a Strong Centre And Strong Coordinationmentioning

confidence: 99%

The ECB After the Crisis: Existing Synergies Among Monetary Policy, Macroprudential Policies and Banking Supervision

2019

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“…Con todo, algunos especialistas habían destacado su singularidad 30 . Así, Zilioli y Selmayr (2001: Revista de Derecho Comunitario Europeo, 63, mayo-agosto (2019), pp. 629-649 78) apuntaron: «This is the first time ever that a "national" authority has been allowed to challenge its own Member State in a supranational court», mientras que ya con anterioridad Smits (1997: 165) había advertido:…”

Section: La Naturaleza Del Recurso: ¿Declarar O Anular?unclassified

Relevo del mandato del gobernador del banco central nacional y papel del Tribunal de Justicia: la independencia justifica el control. Comentario a la sentencia del Tribunal de Justicia (Gran Sala) de 26 de febrero de 2019, Rimšēvičs y BCE/Letonia

María

2019

Rev. Derecho Comunitario Eur.

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Recent Developments in the Law of the European Central Bank

Cited by 8 publications

References 0 publications

The European Central Bank

The European Central Bank

The ECB After the Crisis: Existing Synergies Among Monetary Policy, Macroprudential Policies and Banking Supervision

Relevo del mandato del gobernador del banco central nacional y papel del Tribunal de Justicia: la independencia justifica el control. Comentario a la sentencia del Tribunal de Justicia (Gran Sala) de 26 de febrero de 2019, Rimšēvičs y BCE/Letonia

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