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Part II Developments at the EU Level, 8 Economic Governance

Rosa María Lastra

From: International Financial and Monetary Law (2nd Edition)

Rosa Lastra

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

International financial system — Monetary system — Monetary obligations — European Central Bank
The concern of the Bundestag to oppose any relaxation of the stability criteria derives support from the Protocol on the Convergence Criteria. Without German agreement, the convergence criteria cannot be relaxed. Extract from the Judgment of the German Federal Constitutional Court, 18 October 1993, recital 861 We must not apply the treaty provisions on imposing [fiscal] mandatory requirements and sanctions too mechanically. …More respect should be given to the EU members’ primary competence over economic and fiscal policy. Gerhard Schröder, former German...
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