The proportionality of monetary policy as a macro-juristic theory

The year 2018 marked the passing of 10 years for attempts of systemic financial instability prevention and according legal regulation reforms in the European Union. The role of monetary policy has increased up to the point that the European Central Bank has established so-called unconventional monet...

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Bibliographic Details
Main Author: Bocs Lauris
Format: Article
Language:English
Published: EDP Sciences 2020-01-01
Series:SHS Web of Conferences
Online Access:https://www.shs-conferences.org/articles/shsconf/pdf/2020/13/shsconf_shw2020_01008.pdf
Description
Summary:The year 2018 marked the passing of 10 years for attempts of systemic financial instability prevention and according legal regulation reforms in the European Union. The role of monetary policy has increased up to the point that the European Central Bank has established so-called unconventional monetary policies, including unprecedented asset purchase programmes within the public and private debt sector of the EU. Therefore, the aim of the research is to determine the regulations and associated problems for the enforcement of EU law within the EU's financial sector for unified unconventional monetary policies and to give an assessment of possible solutions, especially in relation to the protection of property value. Using descriptive, logical and deductive methodology the paper concludes that monetary policy is a legislative act without the usual constitutional ex ante evaluation, especially for proportionality. Hence, a macro-juristic theory is described to limit the possible risks.
ISSN:2261-2424