Fabio Bassan

The criterion of legality of the ECB's non-conventional measures

  • Abstract

Informations and abstract

Keywords: ECB Non-Conventional Measures; EU Monetary Policy; Economic Policy; ECB Independence.

The ECB measures of monetary policy in the last seven years were both conventional and unconventional. The article deals with an issue barely investigated by the doctrine: the possible parameter of legality of the ECB's measures. A first part of the study is devoted to the definition of «unconventional». It then discusses the rules applicable to the action of the ECB and the interpretation made by the European Court of Justice and the BVerfG. Finally, it attempts to apply these principles and practices to the unconventional measures taken by the ECB to verify their actual application.

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