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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Consistency and Coherence in Adjudicating the ECB’s Unconventional Monetary Policy
AU - Küçük, Esin
AU - Gerner-Beuerle, Carsten
PY - 2021/10/31
Y1 - 2021/10/31
N2 - Few court cases in the history of European integration have been more controversial than the decisions of the Court of Justice of the EU and the German Federal Constitutional Court on the European Central Bank's public sector asset purchase programmes. This article regards consistency and coherence in the case law as uncontroversial minimum conditions that have to be satisfied for the decisions to gain legitimacy. It assesses the case law against this benchmark and determines the limits of asset purchase programmes under a consistent and coherent application of the legal tests developed by the courts.
AB - Few court cases in the history of European integration have been more controversial than the decisions of the Court of Justice of the EU and the German Federal Constitutional Court on the European Central Bank's public sector asset purchase programmes. This article regards consistency and coherence in the case law as uncontroversial minimum conditions that have to be satisfied for the decisions to gain legitimacy. It assesses the case law against this benchmark and determines the limits of asset purchase programmes under a consistent and coherent application of the legal tests developed by the courts.
KW - EU law
KW - Gauweiler
KW - Weiss
KW - monetary policy
KW - monetary financing
KW - asset purchase programmes
KW - proportionality
U2 - 10.1017/S0020589321000270
DO - 10.1017/S0020589321000270
M3 - Journal article
VL - 70
SP - 859
EP - 893
JO - International and Comparative Law Quarterly
JF - International and Comparative Law Quarterly
SN - 0020-5893
IS - 4
ER -