How accountability of its independent central bank has been organised in the European Union is the focus of this contribution. The European Central Bank’s accountability mechanisms (political, administrative and judicial review, auditing, and other means) are explained. They serve to make the central bank responsive to citizens and their representatives for its two main tasks: maintaining price stability (low inflation) and providing financial stability (soundness of the banks in the Euro Area).
Auteur(s): R. Smits
Verschijning: Januari 2019
administrative and judicial review auditing central bank independence Directive (EU) 2013/36 ESCB Statute European Central Bank fraud prevention Gauweiler Outright Monetary Transactions political accountability Quantitative Easing Regulation (EC) 2531/98 Regulation (EC) 2532/98 Regulation (EC) 2533/98 Regulation (EU) 1024/2013 Regulation (EU) 468/2014 Regulation (EU) 472/2013 Single Supervisory Mechanism troika
Sociaal-economisch recht Financieel recht
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