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“It’s the political economy . . .!” A moment of truth for the eurozone and the EU
International Journal of Constitutional Law ( IF 1.51 ) Pub Date : 2021-05-12 , DOI: 10.1093/icon/moab019
Marco Dani, Edoardo Chiti, Joana Mendes, Agustín José Menéndez, Harm Schepel, Michael A Wilkinson

The article discusses the Weiss dispute from a political economy perspective. It first sets this litigation in its wider context, namely the protracted transformation of the Economic and Monetary Union (EMU) over the last decade, a decade which has revealed the structural flaws in its design. It then briefly sketches the changing role of central banking, from a fixation on fighting inflation to a more recent focus on combating deflation. This helps to explain the problematic character of the Weiss rulings and the commentaries they have provoked, illustrating a general failure to consider the limits of law, the result of clinging to different parts of the EMU wreckage, on the assumption that the current constitutional framework remains viable. Finally, the article emphasizes the transformative potential of the Weiss saga. The judicial conflict lays bare the unsustainability of the present arrangements, and reveals the necessity of a choice between genuinely federal integration and coordinated dismantling of EMU.

中文翻译:

“这是政治经济学。. .!” 欧元区和欧盟的关键时刻

文章从政治经济学的角度讨论魏斯之争。它首先将这一诉讼置于更广泛的背景下,即过去十年经济和货币联盟(EMU)的长期转型,这十年暴露了其设计的结构性缺陷。然后简要概述了中央银行不断变化的角色,从专注于对抗通胀到最近专注于对抗通货紧缩。这有助于解释Weiss的问题特征裁决及其引发的评论表明,在当前宪法框架仍然可行的假设下,普遍未能考虑法律的局限性,这是执着于 EMU 残骸不同部分的结果。最后,文章强调了魏斯传奇的变革潜力。司法冲突暴露了当前安排的不可持续性,并揭示了在真正的联邦整合和协调拆除 EMU 之间做出选择的必要性。
更新日期:2021-06-08
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