Banking Union — a stability-oriented macroeconomic or an efficiency-oriented microeconomic project?

IF 2.2 1区 社会学 Q1 INTERNATIONAL RELATIONS
K. Tuori
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引用次数: 2

Abstract

ABSTRACT The article analyses the Banking Union from an economic-constitutional perspective. It argues that the areas covered by the Banking Union fall substantively mainly under the internal market area of EU law, where the microeconomic efficiency-based rationales and objectives are essential in legal assessments. In contrast, the euro area macroeconomic and stability-oriented rationales guided the decision on the Banking Union and the allocation of banking supervision to the ECB. The article claims that these different constitutional rationales, and the constitutional locus of the Banking Union, could have implications for the broader constitutional architecture and even for the EU legal order. Indeed, the microeconomic part of the EU economic-constitutional model suits legal approach to integration, but the macroeconomic rationales have a more problematic relation with law and courts. This could call for a resurgence of the internal market perspective in Banking Union going forward to remedy some of the constitutional concerns.
银行业联盟——一个以稳定为导向的宏观经济项目还是一个以效率为导向的微观经济项目?
摘要本文从经济宪法的角度对银行联盟进行了分析。它认为,银行联盟所涵盖的领域实质上主要属于欧盟法律的内部市场领域,其中基于微观经济效率的理由和目标在法律评估中至关重要。相比之下,欧元区宏观经济和稳定导向的理由指导了银行联盟的决定以及欧洲央行的银行监管分配。文章声称,这些不同的宪法理由,以及银行联盟的宪法地位,可能会对更广泛的宪法架构,甚至对欧盟法律秩序产生影响。事实上,欧盟经济宪法模式的微观经济部分适合一体化的法律方法,但宏观经济的理由与法律和法院的关系更成问题。这可能要求银行联盟重新树立内部市场观点,以弥补一些宪法问题。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
6.40
自引率
6.90%
发文量
52
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