Bulletin n. 2/2016
December 2016
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
  • Florian Sander
    Case C-62/14 - Gauweiler and Others: The Limits of Monetary Policy in Light of the Outright Monetary Transactions (OMT) Program
    in Columbia Journal of European Law , vol. 22, issue 3 ,  2016 ,  529-538
    With its OMT decision, the European Court of Justice has largely granted the ECB a blank check in its pursuit of a bold and comprehensive monetary policy interpretation. The Court's ruling does not provide meaningful judicial restraint on the ECB 's further expansion of authority, and it does not contribute to a substantive distinction between monetary and economic policy measures. This is a source of major concern; the ECB's latest activities increasingly test the limits towards prohibited monetary state financing. In contrast, the Court's approach on the complex judicial balance of powers between the German Constitutional Court and the European Court of Justice itself deserves credit as a prudent and balanced approach.
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