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Part VI Monetary Unions and other Forms of Monetary Organization, 27 The Institutional Framework of Monetary Union

Charles Proctor, Dr Caroline Kleiner, Dr Florian Mohs

From: Mann on the Legal Aspect of Money (7th Edition)

Charles Proctor

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 01 February 2023

Monetary system — Institutional framework of monetary union — European Central Bank — Sovereign debt
27.01 A review of the institutional structures established for monetary union perhaps tests the permissible boundary lines of the present work on the law of money. Yet, as noted previously, the working definition1 of a monetary union is heavily dependent upon the need for a single central bank which issues the sole currency constituting legal tender within the territory of the union. Furthermore, the crisis that has gripped the eurozone in recent times has focused attention on the institutional structures put in place to support the single currency. It thus...
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