REGULATORY SCOPE OF SIX PACK IN EUROPEAN MONETARY LAW

Marko B. Dimitrijevic

DOI Number
https://doi.org/10.22190/TEME180228037M
First page
617
Last page
629

Abstract


The subject of the analysis in this paper is the analysis and assessment of the regulatory reach of the Six Pack in the monetary law of the European Union. In this respect, the emphasis of the research is on issues related to the need of coordination of the concepts of economic policy of the Member States at the supranational level as a prerequisite for the effective European monetary law and functions and tasks established by the European Semester as the new institutional mechanism of coordination created in the conditions of the global financial crisis. In the further text, the focus of research is on the objectives of the regulations and directive within the Six Pack, which have made the most serious changes to the monetary laws of the Member States and established new competencies of the European Commission and the European Court of Justice in the field of monetary stability, where the general conclusion is the need for their active role in applying the concept of a European semester in order to preserve legal security and ensure the acquest of the international monetary order.


Keywords

monetary law, Six Pack, European Semester, European Commission, monetary stability

Full Text:

PDF

References


Cottier, T., Lastra, M. R., Tietje, C. (2014). The Rule of Law in Monetary Affairs. Cambridge: Cambridge University Press.

Council Directive 2011/85/EU of 8 November 2011 on requirements for budgetary frameworks of the Member States, Official Journal of European Union, L33.

Council Regulation (EU) No 1177/2011 of 8 November 2011 amending Regulation (EC) No

/97 on speeding up and clarifying the implementation of the excessive deficit Procedure, Offical Journаl of European Union, L33.

DG International Policies of the Union-Directorate-A, Economic and Scientific Policy-Economic Governance Support Unit, Inter-parliamentary Committee Meeting, The European Semester for Economic Policy Coordination, Brussels, 27/28, February 2012.

European Commission, Communication from the Commission-Annual Growth Survey 2012, Brussels, 23.11.2011, COM (2011) 815 final VOL. 1/5

European Parliament, Plenary Sitting, Report on the European Semester for Еconomic Рolicy Coordnation: Implementation of 2013 Priorites, 2013/2134 (INI), A7-0322/2013.

European Semеster: A New Arhitecture for the new EU Economic Governance-Q&A, MEMO-11-14.

Golubović, S. (2012). Fiskalna pravila u Ekonomskoj monetarnoj uniji [Fiscal rules in Economic Monetary Union]. Niš: Centar za publikacije Pravnog fakulteta.

Herrmann, C., Dornacher, C. (2017). International and European Monetary Law – An Introduction. Munich: Springer.

Hodson, D. (2015). Policy making under Economic and Monetary Union: Crisis, Change and Continuity. In Policy Making in the European Union (ed. H. Wallace et Al). Oxford University Press.

Kohler-Toglofer, W., Part, P. (2011). Macro-Coordination under the European Semester, Monetary Policy & The Economy Q4/11, 70-72.

Lastra, M. R. (2015). International Financial and European Monetary Law. Oxford: Oxford University Press.

Michael, T. (2012). Reforming European Economic Governance: The European Semester and other Recent Developments. The Institute of International and European Affairs.

Regulation (EU) No 1173/2011 of the European Parliament and of the Council of 16 November 2011 on the effective enforcement of budgetary surveillance in the euro area, Official Journal of European Union, L306/1.

Regulation (EU) No 1174/2011 of the European Parliament and of the Council of16 November 2011 on enforcement measures to correct excessive macroeconomic imbalances in the euro area, Official Journal of European Union, L306/8.

Regulation (EU) No 1175/2011 of the European Parliament and of the Council of 16 November 2011 amending Council Regulation (EC) No 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies, Official Journal of European Union, L306/12.

Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances, Official Journal of European Union, L306/25.

Steinbach, A. (2014). Economic Policy Coordination in the Euro-Area. London & New York: Routledge Studies in the European Economy.




DOI: https://doi.org/10.22190/TEME180228037M

Refbacks

  • There are currently no refbacks.


© University of Niš, Serbia
Creative Commons licence CC BY-NC-ND
Print ISSN: 0353-7919
Online ISSN: 1820-7804