{"product_id":"the-european-central-bank-and-the-european-macroeconomic-constitution-from-ensuring-stability-to-fighting-crises-hardback-9781108488747","title":"The European Central Bank and the European Macroeconomic Constitution; From Ensuring Stability to Fighting Crises (Hardback) 9781108488747","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe European Central Bank and the European Macroeconomic Constitution\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eFrom Ensuring Stability to Fighting Crises\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cem\u003eAn examination of how the European Central Bank was established to ensure stability and prosperity for the euro area.\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eKlaus Tuori (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781108488747, Cambridge University Press\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 22 September 2022\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e280 pages\u003cbr\u003e23.5 x 15.8 x 2.4 cm, 0.67 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThe 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.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e1. Introduction – a supranational central bank as a subject\u003cbr\u003e Part I. The ECB as the Central Bank of the European Macroeconomic Constitution: 2. The three foundations of the EMU\u003cbr\u003e 3. The principles of the European Macroeconomic Constitution\u003cbr\u003e 4. ECB organisation, monetary policy strategy and operational framework\u003cbr\u003e Part II. Crises, ECB Measures and the Macroeconomic Constitution: 5. ECB monetary policy during the financial crisis\u003cbr\u003e 6. The prelude to the sovereign debt crisis: events, ECB verbal interventions and EU rescue programmes\u003cbr\u003e 7. Selective government bond purchases\u003cbr\u003e 8. The ECB's quantitative easing\u003cbr\u003e 9. The banking union – the ECB takes over banking supervision\u003cbr\u003e 10. ECB measures during the Covid-19 pandemic\u003cbr\u003e Part III. The ECB from a Central Bank of Stability to a Central Bank of Crisis\u003cbr\u003e 11. The fate of the European Macroeconomic Constitution\u003cbr\u003e 12. The objectives for the ECB and the Macroeconomic Constitution going forward\u003cbr\u003e Epilogue: where do we go from here?.\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: International law [\u003ca title=\"See our other books on International law\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22International%20law%20%5BLB%5D%22\"\u003eLB\u003c\/a\u003e], Law [\u003ca title=\"See our other books on Law\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Law%20%5BL%5D%22\"\u003eL\u003c\/a\u003e], Monetary economics [\u003ca title=\"See our other books on Monetary economics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Monetary%20economics%20%5BKCBM%5D%22\"\u003eKCBM\u003c\/a\u003e], Macroeconomics [\u003ca title=\"See our other books on Macroeconomics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Macroeconomics%20%5BKCB%5D%22\"\u003eKCB\u003c\/a\u003e], International relations [\u003ca title=\"See our other books on International relations\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22International%20relations%20%5BJPS%5D%22\"\u003eJPS\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Cambridge University Press","offers":[{"title":"Default Title","offer_id":46002413502744,"sku":"9781108488747","price":74.59,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/products\/9781108488747i.jpg?v=1696706556","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/the-european-central-bank-and-the-european-macroeconomic-constitution-from-ensuring-stability-to-fighting-crises-hardback-9781108488747","provider":"Freshly Printed Books","version":"1.0","type":"link"}