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Allocating Lending of Last Resort and Supervision in the Euro Area

Charles M. Kahn and João A. C. Santos

in Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199271405
eISBN:
9780191601200
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271402.003.0017
Subject:
Economics and Finance, Economic Systems

The Maastricht Treaty created the European System of Central Banks and the European Central Bank (ECB) to head the system. The treaty entrusts the ECB with the responsibility for monetary policy, but ... More


Monetary Policy and Euro Area Governance in the EMU

Herwig C H Hofmann

in Specialized Administrative Law of the European Union: A Sectoral Review

Published in print:
2018
Published Online:
March 2021
ISBN:
9780198787433
eISBN:
9780191927799
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198787433.003.0010
Subject:
Law, EU Law

One of the European Union’s most ambitious policy projects to date is the ‘economic and monetary union whose currency is the euro’ (EMU, Article 3(4) TEU). The EMU’s two polices—the economic union ... More


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