Constitutional Issues of the Single Supervisory Mechanism (SSM)

Author/s Lorenzo Cuocolo
Publishing Year 2016 Issue 2016/1 Language English
Pages 24 P. 17-40 File size 457 KB
DOI 10.3280/ED2016-001003
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European history has always been characterized by a strong link between banks and States and, more generally, between banks and politics. National banking systems, therefore, have always been one of the forms of expression of sovereignty. This setting is seriously called into question by the Banking Union project, which has been recently implemented in Europe. Given the importance of the issue, this should be studied not only from the perspective of economics and regulatory studies, but also from the perspective of constitutional law. The paper, after a reconstruction of the historical and economic conditions that have led to design a project of Banking Union, analyzes several constitutional issues. In particular, te paper focuses on the friction points between the European Banking Union and the democratic principle, the rule of law and the justiciability principle.

Keywords: Bank - european banking union, single supervisory mechanism, european central bank, european integration, sovereignty.

Jel codes: E58, K23, K10, K20

Lorenzo Cuocolo, Constitutional Issues of the Single Supervisory Mechanism (SSM) in "ECONOMIA E DIRITTO DEL TERZIARIO " 1/2016, pp 17-40, DOI: 10.3280/ED2016-001003