Policy Briefs

ADEMU policy briefs include key results and policy recommendations in a format tailored towards relevant national and European policy makers, in order to produce a real impact on the improvement of the current institutional framework of EMU.

Economic and Legal Assessment of existing mechanisms and procedures

The analysis of the current EU and EMU framework, as well as the study of its possible improvements, cannot only focus on the economic dimension of the monetary union. In fact, any successful proposal aimed at ensuring sustainability to the overall system cannot overlook the legal dimension in which the EMU is being developed and for this reason, over the course of the first year of the project, the ADEMU Law team has worked to set up a specific research agenda on these issues. In particular, four research themes have been identified, regarding the legal and constitutional constraints and challenges posed at both European and national level by the institutional innovations:

  1. Constitutional conditions posed to legal change of EMU at both EU and national level
  2. Legal aspects of the overall new EMU/economic governance package,
  3. Legal aspects of risk-sharing mechanisms,
  4. Legal aspects of banking union.

The policy brief “Economic and legal assessment of existing mechanisms and procedures” represents a summary of the legal research carried out in the first year of the ADEMU project, with specific references to the economic research developed in parallel and it will serve as a preparatory work for further analysis and the formulation of alternative mechanisms and institutional reforms.