000			03289nam a22003978i 4500
001			CR9781108771757
003			UkCbUP
005			20240301142639.0
006			m|||||o||d||||||||
007			cr||||||||||||
008			190402s2022||||enk o ||1 0|eng|d
020			_a9781108771757 (ebook)
020			_z9781108488747 (hardback)
020			_z9781108738804 (paperback)
040			_aUkCbUP _beng _erda _cUkCbUP
043			_ae------
050	0	0	_aKJE7051 _b.T86 2022
082	0	0	_a343.4/032 _223/eng/20220831
100	1		_aTuori, Klaus, _eauthor.
245	1	4	_aThe European Central Bank and the European macroeconomic constitution : _bfrom ensuring stability to fighting crises / _cKlaus Tuori.
264		1	_aCambridge, United Kingdom ; New York, NY : _bCambridge University Press, _c2022.
300			_a1 online resource (xix, 334 pages) : _bdigital, PDF file(s).
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
490	1		_aCambridge studies in European law and policy
500			_aTitle from publisher's bibliographic system (viewed on 20 Sep 2022).
505	0		_aIntroduction - a supranational central bank as a subject -- The three foundations of the EMU -- The principles of the European macroeconomic constitution -- ECB organisation, monetary policy strategy and operational framework -- ECB monetary policy during the financial crisis -- The prelude to the sovereign debt crisis : events, ECB verbal interventions and EU rescue programmes -- Selective government bond purchases -- The ECB's Quantitative Easing -- The banking union - the ECB takes over banking supervision -- ECB measures during the covid-19 pandemic -- The fate of the European macroeconomic Constitution -- The objectives for the ECB and the Macroeconomic Constitution going forward -- Epilogue : where do we go from here?
520			_aThe book is about money, central banking and constitutions. It explains how the European Central Bank was established to ensure stability and prosperity for the euro area. The ECB was guided and controlled by a coherent European Macroeconomic Constitution. However, this model has failed during recurring crises, and the ECB has started to act as the euro area fire brigade. Consequently, it is pushing the boundaries of monetary policy, and with that challenging the accountability mechanisms and fundamentally also the democratic legitimacy of the EMU. The book sheds light on this complex economic-constitutional setting with a view on the future. The imbalance between various new operations and a single price stability objective is difficult to remedy. New objectives of financial stability, economic adjustment and environmental sustainability can cause fundamental ruptures between the ECB's formal role and its actions, and they also dangerously overburden monetary policy moving forward with substantial risks.
610	2	0	_aEuropean Central Bank.
650		0	_aBanks and banking, Central _xLaw and legislation _xEconomic aspects _zEuropean Union countries.
651		0	_aEuropean Union countries _xEconomic policy.
776	0	8	_iPrint version: _z9781108488747
830		0	_aCambridge studies in European law and policy.
856	4	0	_uhttps://doi.org/10.1017/9781108771757
999			_c9820 _d9820