Models of Solidarity in the EMU. The Impact of COVID-19 After 'Weiss'

Right in the middle of the Covid-19 pandemic, the German federal constitutional court (Bundesverfassungsgericht – FCC) issued a ruling that sent massive shockwaves through the continent. Not only did the Court question the legality of the European Central Bank’s bond buying program PSPP (Public Sect...

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Autores principales:	Ton van den Brink, Matteo Gargantini
Formato:	article
Lenguaje:	EN
Publicado:	Utrecht University School of Law 2021
Materias:	emu eu economic governance covid-19 european central bank fiscal union fiscal solidarity corona recovery fund Law in general. Comparative and uniform law. Jurisprudence K1-7720
Acceso en línea:	https://doaj.org/article/9eee82689aba42da87705ef5a75db68e
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spelling	oai:doaj.org-article:9eee82689aba42da87705ef5a75db68e2021-11-08T08:17:05ZModels of Solidarity in the EMU. The Impact of COVID-19 After 'Weiss'1871-515X10.36633/ulr.663https://doaj.org/article/9eee82689aba42da87705ef5a75db68e2021-10-01T00:00:00Zhttps://www.utrechtlawreview.org/articles/663https://doaj.org/toc/1871-515XRight in the middle of the Covid-19 pandemic, the German federal constitutional court (Bundesverfassungsgericht – FCC) issued a ruling that sent massive shockwaves through the continent. Not only did the Court question the legality of the European Central Bank’s bond buying program PSPP (Public Sector Purchase Program), but it also rejected the earlier decision by the CJEU in which this latter had found that program to respect EU law. The ruling is as such not directly concerned with Covid-19 measures, but it may have nonetheless important consequences thereon. In this contribution we will explore what those consequences may be. Apart from the direct effects on the ECB’s pandemic emergency purchase programme (PEPP), we zoom in on the ruling’s indirect consequences on the broader question of how to arrange solidarity in EMU. With regard to the latter, we contend that Weiss and the Covid-19 crises combined will test the basic models of solidarity the EMU relies upon: the models of individual fiscal responsibility, ECB based solidarity and the model of fiscal union. These models are assessed from economic, constitutional and democratic perspectives.Ton van den BrinkMatteo GargantiniUtrecht University School of Lawarticleemueu economic governancecovid-19european central bankfiscal unionfiscal solidaritycorona recovery fundLaw in general. Comparative and uniform law. JurisprudenceK1-7720ENUtrecht Law Review, Vol 17, Iss 3 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	emu eu economic governance covid-19 european central bank fiscal union fiscal solidarity corona recovery fund Law in general. Comparative and uniform law. Jurisprudence K1-7720
spellingShingle	emu eu economic governance covid-19 european central bank fiscal union fiscal solidarity corona recovery fund Law in general. Comparative and uniform law. Jurisprudence K1-7720 Ton van den Brink Matteo Gargantini Models of Solidarity in the EMU. The Impact of COVID-19 After 'Weiss'
description	Right in the middle of the Covid-19 pandemic, the German federal constitutional court (Bundesverfassungsgericht – FCC) issued a ruling that sent massive shockwaves through the continent. Not only did the Court question the legality of the European Central Bank’s bond buying program PSPP (Public Sector Purchase Program), but it also rejected the earlier decision by the CJEU in which this latter had found that program to respect EU law. The ruling is as such not directly concerned with Covid-19 measures, but it may have nonetheless important consequences thereon. In this contribution we will explore what those consequences may be. Apart from the direct effects on the ECB’s pandemic emergency purchase programme (PEPP), we zoom in on the ruling’s indirect consequences on the broader question of how to arrange solidarity in EMU. With regard to the latter, we contend that Weiss and the Covid-19 crises combined will test the basic models of solidarity the EMU relies upon: the models of individual fiscal responsibility, ECB based solidarity and the model of fiscal union. These models are assessed from economic, constitutional and democratic perspectives.
format	article
author	Ton van den Brink Matteo Gargantini
author_facet	Ton van den Brink Matteo Gargantini
author_sort	Ton van den Brink
title	Models of Solidarity in the EMU. The Impact of COVID-19 After 'Weiss'
title_short	Models of Solidarity in the EMU. The Impact of COVID-19 After 'Weiss'
title_full	Models of Solidarity in the EMU. The Impact of COVID-19 After 'Weiss'
title_fullStr	Models of Solidarity in the EMU. The Impact of COVID-19 After 'Weiss'
title_full_unstemmed	Models of Solidarity in the EMU. The Impact of COVID-19 After 'Weiss'
title_sort	models of solidarity in the emu. the impact of covid-19 after 'weiss'
publisher	Utrecht University School of Law
publishDate	2021
url	https://doaj.org/article/9eee82689aba42da87705ef5a75db68e
work_keys_str_mv	AT tonvandenbrink modelsofsolidarityintheemutheimpactofcovid19afterweiss AT matteogargantini modelsofsolidarityintheemutheimpactofcovid19afterweiss
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Models of Solidarity in the EMU. The Impact of COVID-19 After 'Weiss'

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