Economic Law and the Treaty of Lisbon II: European Economic and Monetary Union [Economisch Recht En Het Verdrag Van Lissabon II: Economische En Monetaire Unie]

Abstract:     
During the negotiations for the Treaty of Lisbon, the stability oriented rules governing European Economic and Monetary Union came under pressure. Namely the French government was rather critical about the monetary policy conducted in the Euro area and the powerful and independent position of the European Central Bank in this context. It was suggested that a counterweight is needed in the shape of a European economic government of some sort. Against this background the question arises whether and to what extent evidence can be found in the Treaty of Lisbon for a change of the present legal regime accommodating for this position. In seeking an answer to this question, the Dutch-language paper analyses the aims and general macroeconomic principles a stated in the treaty of Lisbon, the regime of economic coordination, as well as the future position of the European Central Bank. While the authors conclude that the treaty of Lisbon does not constitute a paradigm shift in any of these areas, namely the strengthening of the so-called Euro group, consisting of the governments of the Member States participating in the Euro area, can potentially result in a loss of coherence of economic policy in the European Union.

Keywords: European Union, Treaty of Lisbon, economic law, Economic and Monetary Union, Euro area, European central Bank, independence, European integration

JEL Classification: K10, K33, E60, F02

Accepted Paper Series