Jean-Victor Louis, 'The Economic and Monetary Union: Law and institutions' (2004) 41 Common Market Law Review pp. 575-608
This contribution concerns the draft texts on Economic and Monetary Union (EMU) for the Constitution for Europe.
As far as the 'E' part of EMU the author discusses economic policy coordination and the Stability and Growth Pact. Regarding the 'M' part, the author revisits some questions he looked at in 'A legal and institutional approach for building a Monetary Union' (35 CML Rev. (1998), 33-76):
· the legal order of the European System of Central Banks (i.a. the principle of decentralisation, political accountability and the enlargement perspective), and
· the institutional position of the European Central Bank (i.a. the OLAF case).
Furthermore, the author raises some questions concerning the future of EMU: participation in EMR II and the euro (the Swedish referendum) and the representation of the Euro area in international monetary and financial organisations.
Author information: prof. Jean-Victor Louis is Honorary Professor, Université Libre de Bruxelles, former President of the Institute of European Studies, former professor, European University Institute, Honorary General Counsel of the National Bank of Belgium.