The Legal Framework for the European System of Central Banks

By delineating the legal background of the European monetary union, Helmut Siekmann gives an overview about objectives, competences and obligations as the rules on government deficits and debt. Based on that, Siekmann describes the European system of central banks and explores the question whether an exit or an exclusion from the eurozone and the introduction of a new currency parallel to the euro are legally possible, taking into account the specific circumstances in Greece. (24.04.15)