TY - ADVS
T1 - Why a Recent Judgment by the German Bundesverfassungsgericht Might Introduce Climate Change Considerations into Monetary Policy
AU - Agostini, Federica
AU - Garcia Cerrato, Elia
AU - Jaberg, Nicolas
PY - 2020
Y1 - 2020
N2 - The recent judgement by the German Federal Constitutional Court (‘FCC’) has been widely criticised both for its legal reasoning and for its impact on the EU legal order. Nevertheless, it yields valuable lessons for the ECB. Even though the ECB is an EU institution and the Court of Justice of the European Union (‘CJEU’) had already confirmed that it acted within its mandate, the FCC emphasises that the EU Treaties impose certain procedural guarantees that must not be overstepped in order to keep EU institutions like the ECB accountable. For this reason, it urges the ECB to demonstrate greater transparency in conducting monetary policy.
AB - The recent judgement by the German Federal Constitutional Court (‘FCC’) has been widely criticised both for its legal reasoning and for its impact on the EU legal order. Nevertheless, it yields valuable lessons for the ECB. Even though the ECB is an EU institution and the Court of Justice of the European Union (‘CJEU’) had already confirmed that it acted within its mandate, the FCC emphasises that the EU Treaties impose certain procedural guarantees that must not be overstepped in order to keep EU institutions like the ECB accountable. For this reason, it urges the ECB to demonstrate greater transparency in conducting monetary policy.
KW - Financial regulation European Central Bank Climate change
KW - monetary policy
KW - climate change
KW - European Central Bank
UR - https://blogs.law.ox.ac.uk/business-law-blog/blog/2020/06/why-recent-judgment-german-bundesverfassungsgericht-might-introduce
M3 - Web publication/site
PB - University of Oxford
ER -
