THE THE IMPORTANCE OF COHESION POLICY VALUES IN THE LAW OF THE EUROPEAN CENTRAL BANK
DOI:
https://doi.org/10.25234/pv/30216Abstract
The subject matter of analysis in this paper is the cohesion policy in the discourse of the Law of the European Central Bank (ECB), which will be reviewed for the purpose of establishing changes in the values and principles of cohesion policy which significantly redefined the postulates of the contemporary EU monetary legislation in the circumstances of the COVID-19 pandemic crisis. In that regard, the paper aims to analytically examine the characteristics and qualitative influence of the tendency to “humanize” the contemporary monetary legislation, as well as the sophisticated modus operandi of shaping the monetary authority by public law in the architecture of the European Economic and Monetary Union (EMU). By applying the dogmatic, axiological, and comparative law method, the author identifies the greatest dilemmas encountered by the European legislator in the context of adjusting the ECB regulatory activity and its primary tasks to the principles of cohesion policy.
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