International and European Monetary Law: An Introduction (SpringerBriefs in Law)

Présentation de l'éditeur : "This book introduces the fundamental monetary law problems of cross-border economic activity and the solutions thereto in international monetary law, and in EU law. After decades of having been neglected by legal scholars, international and European monetary law has attracted increasing attention in recent years. With the European Economic and Monetary Union (EMU), a full-fledged monetary union between sovereign States has been established for the first time in history. Its construction is primarily a work of law, with the Treaties on European Union (TEU) and on the Functioning of the European Union (TFEU) together with a number of protocols forming the constitutional basis. Yet, European monetary Integration has never taken place in isolation from international developments. Moreover, international monetary law, namely the Articles of Agreement of the International Monetary Fund (IMF) has always played a role - initially as the external monetary addition to the internal market project, after the breakdown of the Bretton Woods System in the 1970s as one of the major driving forces for monetary Integration within the EU. On a fundamental basis, international and European monetary law address the same principled problems of monetary cooperation: how to proceed with financial transactions cross-border where no global currency exists. The present work describes the different approaches and relations and interplay between the two legal regimes." Présentation de l'éditeur : "This book introduces the fundamental monetary law problems of cross-border economic activity and the solutions thereto in international monetary law, and in EU law. After decades of having been neglected by legal scholars, international and European monetary law has attracted increasing attention in recent years. With the European Economic and Monetary Union (EMU), a full-fledged monetary union between sovereign States has been established for the first time in history. Its construction is primarily a work of law, with the Treaties on European Union (TEU) and on the Functioning of the European Union (TFEU) together with a number of protocols forming the constitutional basis. Yet, European monetary Integration has never taken place in isolation from international developments. Moreover, international monetary law, namely the Articles of Agreement of the International Monetary Fund (IMF) has always played a role - initially as the external monetary addition to the internal market project, after the breakdown of the Bretton Woods System in the 1970s as one of the major driving forces for monetary Integration within the EU. On a fundamental basis, international and European monetary law address the same principled problems of monetary cooperation: how to proceed with financial transactions cross-border where no global currency exists. The present work describes the different approaches and relations and interplay between the two legal regimes." Front Matter....Pages i-x Interdisciplinary Introduction to Money and Currencies....Pages 1-9 Monetary Sovereignty and History of International Monetary Law....Pages 11-21 Fundamental Legal Problems of International Monetary Relations....Pages 23-30 The International Monetary Constitution: The IMF Articles of Agreement—Institutional Design and Decision-Making....Pages 31-39 The International Monetary Constitution: The IMF Articles of Agreement—Substantive Legal Obligations....Pages 41-49 IMF Lending (Financial Assistance)....Pages 51-62 History of European Monetary Law....Pages 63-72 The Legal Framework of EMU post Lisbon—Institutional Setup....Pages 73-81 The Substantive Legal Foundations of EMU post Lisbon....Pages 83-92 The Monetary Policy of EMU....Pages 93-99 Economic Policy Coordination in EMU....Pages 101-110 The External Relations of EMU....Pages 111-118 EMU and the Sovereign Debt Crisis—Legal Aspects of Financial Assistance for Member States....Pages 119-128 EMU and the Sovereign Debt Crisis—Legal Aspects of Monetary Policy Responses and the Banking Union....Pages 129-138 Annotation This work introduces the fundamental monetary law problems of cross-border economic activity and the solutions thereto in international monetary law, and in EU law. After decades of having been neglected by legal scholars, international and European monetary law has attracted increasing attention in recent years. With the European Economic and Monetary Union (EMU), a full-fledged monetary union between sovereign States has been established for the first time in history. The present work describes the different approaches and relations and interplay between the two legal regimes