18 June 2015
Mutually Assured Discretion: The ECJ on the ECB’s OMT Policy
In a political and economic perspective, the recent ECJ judgment on the OMT program is not more than a footnote, a short sideshow in a seemingly never-ending sequel of another dimension. Legally, however, I find the case quite remarkable. Unlike its Advocate General, the ECJ did not yield to the temptation to respond in kind to the FCC’s provocations. In particular, it avoids the issue of domestic vs. European constitutional identity that juxtaposed the FCC and the Advocate General. Instead, the ECJ has shown political responsibility and legal foresight in framing what could become a masterpiece of truly cooperative, other-regarding constitutional pluralism. Continue reading >>
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18 June 2015
Mutually Assured Discretion: The ECJ on the ECB’s OMT Policy
In a political and economic perspective, the recent ECJ judgment on the OMT program is not more than a footnote, a short sideshow in a seemingly never-ending sequel of another dimension. Legally, however, I find the case quite remarkable. Unlike its Advocate General, the ECJ did not yield to the temptation to respond in kind to the FCC’s provocations. In particular, it avoids the issue of domestic vs. European constitutional identity that juxtaposed the FCC and the Advocate General. Instead, the ECJ has shown political responsibility and legal foresight in framing what could become a masterpiece of truly cooperative, other-regarding constitutional pluralism. Continue reading >>
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15 August 2014
Argentinien in Den Haag: Geburtswehen eines öffentlichen Rechts der pluralistischen Weltgesellschaft?
Argentinien hat im Streit um seine Altschulden die USA vor dem Internationalen Gerichtshof verklagt. Die Erfolgsaussichten sind ungewiss - doch könnte das Verfahren helfen, einen Mechanismus für die Restrukturierung überschuldeter Staaten auf den Weg zu bringen. Continue reading >>15 August 2014