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Institutional Responsiveness to Crises. - From the Euro Crisis to COVID-19 & Ukraine

15 important questions on Institutional Responsiveness to Crises. - From the Euro Crisis to COVID-19 & Ukraine

How to respond to covid crisis?

- specific policy.
- Another way is to reflect on treaty reform, so to change the TEU and TFEU. Tfeu

Recovery plan next generion eu?

recovery plan next generatio EU is taken place within the scope of union law precisely as reaction on the fact that there was so much done outside the EU as response to the economic and financial crisis. So I think this recovery plan and next generation EU, which is part of the EU, is a counter reaction to what took place as response to the economic and financial crisis outside the EU.

What was the first response to the economic crisis?

financial stability mechanism. This was a purely EU instrument and it had at the legal base article 122 (2) TFEU,
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What is European financial stability facility

It is a private international law instrument. It is an undertaking, a Société anonym established in Luxemburg. It is a company that was created by coordinated actions of the member states. So the object was the company to be created to facilitate and provide financing to the member states of the Eu in financial difficulties and in particularly to those member states who use the Euro. T

How does the european financial stability facility differ from EFSM European financial stability mechanism?

It is not eu law. I

ESM? European stability mechanism?

European stability mechanism  What is remarkable about this permanent solution of the euro area, is that this European stability mechanism is an international financial institution. Created by a treaty between the eurozone member states (19) and outside the scope of EU law. Reminds us of the fiscal compact (lecture 8), except that the fiscal compact had all the member states of the EU as parties, at least most member states, some joined afterward. Here it is a eurozone mechanism, only for 19 member states of the eurozone.

How does the esm get money?

European stability mechanism is an entity under international law that receives contributions from the member states, but that primary borrows money on international markets in order to redistribute it to the member states in need in the eurozone. So the membership open to all, for member states who have the euro

What is proposal 2017 about? ESM

Now there is currently a proposal to the ESM treaty into Eu law. Proposal of 2017.This proposal would have as a legal basis art 352 TFEU. So the proposal by the EU commission to incorporate the ESM into EU law would be based on art 352 TFEU

What is so special about art.352 tfeu?

the flexibility clause. Catch all in the sense that you can use it if no other legal base is available. You can also only use it if all the member states agree, because you need unanimity at the council and consent of the parliament. You can only use it to achieve an objective of the EU for which no specific basis is available

What is the kern ledra case

However, the court has ruled in the Ledra case that the institutions of the EU that are involved in implementing and establishing the ESM, eg with negotiations of a MoU, they themselves may be liable under EU law, in particular in damages. So the CJEU said: you cannot bring an annulment action against an act of the ECB or the commission in the context of the ESM Treaty, because the conditions for that purpose are not fulfilled, but you may call into question the liability of the damages of the EU for having acted within the scope of union law

What is ecb and omt

ECB: The European central bank has been at the forefront in both the financial crisis and the current covid crisis. - OMT: Outright monetary transactions.

The Public Sector asset Purchase Programme (PSPP

They signed through a decision, a decision of the ECB of 2015. Again on the purchase on the secondary market of certain bons and this time

Pandemic Emergency Purchase Programme

in a decision that it would be ready to purchase certain bons on the secondary market again, in order to support the member states who need to invest and borrow money on international markets to finance the response to the pandemic. And so this PEPP is even more ambitious than the previous OMT and PSPP. So one of the questions pending, is whether this current ECB programme is itself compatible with the case law of the CJEU and perhaps the stricter standards established by the German federal constitutional court

Where do we start with the protection of fundamental rights?

Art.6 teu

What is the diffrence between rights and principles?

distinguishes between principles and rights in its article 52 paragraph 5.

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