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The Legal Architecture of the Economic Responses to COVID‐19: EMU beyond the Pandemic

Fabbrini, Federico

Journal of common market studies, 2022-01, Vol.60 (1), p.186-203 [Periódico revisado por pares]

Oxford: Blackwell Publishing Ltd

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  • Título:
    The Legal Architecture of the Economic Responses to COVID‐19: EMU beyond the Pandemic
  • Autor: Fabbrini, Federico
  • Assuntos: COVID-19 ; economic governance ; Economic policy ; EMU ; Governance ; Monetary unions ; Next Generation EU ; Pandemics ; recovery fund ; Settlements & damages
  • É parte de: Journal of common market studies, 2022-01, Vol.60 (1), p.186-203
  • Notas: This article was supported in part by a Jean Monnet Network entitled ‘The Politics of the European Semester: EU Coordination and Domestic Political Institutions (EUROSEM)’ Agreement number: 600110‐EPP‐1‐2018‐1‐CA‐EPPJMO‐NETWORK (Grant agreement nr 2018‐1359), with the support of the Erasmus+ programme of the European Union. The author would also like to acknowledge support from DCU Faculty of Humanities Journal Publication Scheme.
    Federico Fabbrini is Full Professor of EU Law at Dublin City University (DCU), where he is the Founding Director of the Brexit Institute and the PI of the Jean Monnet Network BRIDGE (Brexit Research and Interchange on Differentiated Governance in Europe).
  • Descrição: This article analyses from a law and policy perspectives the measures adopted by the European Union (EU) to address the devastating economic effects of COVID‐19, assessing their implications for Europe's economic and monetary union (EMU). The article first sets the background by exploring the main features of EMU before COVID‐19. Subsequently, it examines the multiplicity of policies deployed by the EU institutions to contain the socio‐economic damages of the pandemic – including, most crucially, the EU recovery fund "Next Generation EU" – and underlines their transformative effect on the EU architecture of economic governance. As the article argues, the responses to COVID‐19 have produced a significant rebalancing of EMU, bridging the asymmetry between EU monetary and economic policy. Finally, the article considers whether the COVID‐19‐related responses are likely to be only temporary, or rather a new normal for EMU, and sheds light on further constitutional adaptations which are needed to sustain this unprecedented transfer of fiscal power to the EU level.
  • Editor: Oxford: Blackwell Publishing Ltd
  • Idioma: Inglês
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  • Realização: ABCD-USP USP   Logos de Redes Sociais: Freepik

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