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Journal Article

Legal developments in the Economic and Monetary Union during the debt crisis: the mechanisms of financial assistance

01 Jan 2012-Common Market Law Review (Kluwer Law International)-Vol. 49, Iss: 5, pp 1613-1645

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Book
01 Jan 2020
Abstract: "Leading economists from around the world are calling for swift policy action to mitigate the economic damage from the global pandemic. In this second eBook on the coronavirus from CEPR and Vox, the experts are unanimous that the case for decisive and coordinated fiscal stimulus is overwhelming."

206 citations


Cites background from "Legal developments in the Economic ..."

  • ...The ESM’s underlying logic derived from a context in which considerations regarding budgetary discipline and moral hazard were the norm (De Gregorio 2012)....

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Journal ArticleDOI
Abstract: Political science analyses of the governance of the euro crisis largely build on conventional theories of European integration to account for the extent to which institutional developments either reflect supranationalism, inter-governmentalism or historical path-dependencies. This analytical focus captures the usual integration dynamics and institutional design outcomes, but overlooks the constitutional dimension of how the crisis affects the EU's legal order. In this agenda-setting article, I draw attention to legal scholarship that highlights important deviations from the EU's ‘legal normalcy’. Legal studies find that a number of emergency measures were taken on an extra-legal basis and through quasi-autocratic procedures. Normative reconstructions interpret this practice as a form of transnational state of exception which transitions into permanent traits of authoritarianism in the EU's legal order. I argue that their findings offer a new terrain for political science research which transcends the explanatory categories of integration theory.

49 citations


Cites background from "Legal developments in the Economic ..."

  • ...…with the legitimacy of the crisis measures, much (perhaps even the majority of) legal scholarship has concluded that these measures were defensible from a formal legal perspective, echoing the affirmative decisions of the ECJ (European Court of Justice) (de Gregorio Merino, 2012; Craig, 2013)....

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  • ...While generally more concerned with the legitimacy of the crisis measures, much (perhaps even the majority of) legal scholarship has concluded that these measures were defensible from a formal legal perspective, echoing the affirmative decisions of the ECJ (European Court of Justice) (de Gregorio Merino, 2012; Craig, 2013)....

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Journal ArticleDOI
Abstract: Concept of solidarity – Factual vs. normative solidarity – Development of solidarity in the euro area – Transition from negative to positive solidarity – Solidarity as a legal concept – European Stability Mechanism – European Financial Stabilisation Mechanism – European Financial Stability Facility – Pringle judgement of the Court of Justice of the European Union – ECB bond-buying programmes

45 citations

Book
01 Oct 2017

42 citations