Law and Economics of the Monetary Union
|Forschungsbereich:||Financial Stability, Financial Regulation, Central Bank Law|
The paper starts with an historical outline from the Werner plan and the Delors plan to the Maastricht Treaty and the introduction of the euro, describing the principles of formation. It explains the European System of Central Banks and the Eurosystem, the macroeconomic surveillance and the common fiscal policy. In conclusion, the structural flaws of the monetary union are analyzed.