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The Legal Interaction in the EU Institutional Framework

  • Luca Amorello
Chapter

Abstract

Amorello explores the intertwined legal architecture of monetary and macroprudential policies in the EU, with the aim to figure out whether, and to what extent, the cross side effects of the two policies are acknowledged in the relevant EU texts. The EU institutional architecture is particularly analyzed considering the legal arrangements set by the law to mitigate risks of policy conflicts. The lack of a European integrated framework of monetary and macroprudential policies can have negative implications for their cooperative conduct as well as for the operationalization of additional macroprudential instruments that may fully capture—and mitigate—the systemic risks arising due to the monetary policy stances of the ESCB.

Keywords

EU integrated framework Macroprudential instruments ESCB Legal architecture Legal arrangements 

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© The Author(s) 2018

Authors and Affiliations

  • Luca Amorello
    • 1
  1. 1.Cleary Gottlieb Steen & Hamilton LLPLondonUK

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