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The Pursuit of Stability of the Euro Area as a Whole - The Reform of the European Economic Union and Perspectives of Fiscal Integration (Hardcover, 1st ed. 2020)
Loot Price: R3,620
Discovery Miles 36 200
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The Pursuit of Stability of the Euro Area as a Whole - The Reform of the European Economic Union and Perspectives of Fiscal Integration (Hardcover, 1st ed. 2020)
Series: Studies in European Economic Law and Regulation, 18
Expected to ship within 10 - 15 working days
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This book analyses the ongoing reform of the European economic
union in the light of the new objective of 'stability of the euro
area as a whole' in Article 136(3) TFEU. On the basis of the
relevant legal sources, it qualifies this objective as the
obligation to preserve the existence of the monetary union, the
establishment of which was an EU goal laid down in Article 3(4)
TEU. While to date the objective has been achieved through fiscal
and macroeconomic consolidation in the member states and the
activation of stabilisation mechanisms in cases of emergency, the
book argues that full stability requires a better system of
economic governance, either through a process of partial fiscal
centralisation or the return to a more efficient and sustainable
market discipline of public finances. It also analyses the concrete
legal challenges these raise, including compliance with the
conferral principle, the longstanding democratic deficit of the
governance and the balance between financial solidarity and fiscal
responsibility.
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