Democratic legitimation of Central Bank Independence in the European Union / Cornelia Manger-Nestler, Markus Gentzsch.
Manger-Nestler, Cornelia, author.; Gentzsch, Markus, author.
2021
HG2980.5.A7
Available Online

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Title Democratic legitimation of Central Bank Independence in the European Union / Cornelia Manger-Nestler, Markus Gentzsch.
Author Manger-Nestler, Cornelia, author.
ISBN 9783030751159 (electronic bk.)
3030751155 (electronic bk.)
3030751147
9783030751142
DOI https://doi.org/10.1007/978-3-030-75115-9
Imprint Cham : Springer, 2021.
Language English
Description 1 online resource
Other Standard Identifiers 10.1007/978-3-030-75115-9 doi
Call Number HG2980.5.A7
Dewey Decimal Classification 332.1/1094
Summary This short monograph examines the tense relationship between central bank independence and democratic legitimation, which has changed as the European Central Bank (ECB) has been entrusted with new tasks and faced unprecedented challenges. The financial and sovereign debt crisis, in particular, has affected the ECB's position within the Economic and Monetary Union without substantial changes in the Union's legal framework. However, the evolution of an institution primarily obligated to maintain price stability into an actor involved in sustaining financial stability, performing banking supervision and supporting economic policy raises the question of whether the high level of autonomy granted to the ECB is justified with regard to the principle of democracy that demands adequate accountability and control. This book identifies requirements for the democratic legitimation of central bank action in relation to specific tasks. Further, it analyses other scales of independence encountered in EU law in order to allow readers to gain a better conceptual understanding of central bank independence.
Bibliography, etc. Note Includes bibliographical references.
Access Note Access limited to authorized users.
Source of Description Online resource; title from PDF title page (SpringerLink, viewed June 14, 2021).
Added Author Gentzsch, Markus, author.
Available in Other Form Democratic legitimation of Central Bank Independence in the European Union.
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Introduction
Central Bank Independence and Democracy
Dimensions of Independence in the Various Tasks of the ECB
Independence as a Structural Characteristic of European Union Law
Democratic Legitimation and Control of Central Bank Action
Conclusion.

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