Suchergebnisse

The establishment of the esm, the entity that offers financial assistance under strict conditions with the purpose of providing support for the stability of the euro area, was a clear European Union response to the current economic crisis. This entity, which is a part of the current model of economic governance of the EU, is a key element in the process of its coordination and improved economic surveillance, which makes its study to be considered highly relevant and current. Therefore, the main goal of this article is to examine its legal structure, configuration, funding model, and ability to act, in order to then assess its feasibility and the degree of legitimacy deficit that it presents. ; El establecimiento del mede, un organismo que facilita la ayuda financiera bajo unas condiciones estrictas, proporcionando de este modo el apoyo a la estabilidad de la zona euro, fue una clara respuesta de la Unión Europea ante la crisis económica vigente.Dicha entidad, que forma parte del actual modelo de gobernanza económica de la UE, es un elemento clave en el proceso de coordinación y vigilancia económica reforzadas, lo que hace que su estudio se considere de máxima relevancia y actualidad.Por eso, el principal objetivo de este artículo consiste en examinar su estructura jurídica, la configuración, el modelo de financiación y la capacidad de actuación, para poder analizar posteriormente su viabilidad y el grado de déficit de legitimidad que presenta.

The European Central Bank (ECB) has received a lot of criticism for its too little, too late performance to ease market pressures during the economic crisis. At the same time, the ECB and the Federal Reserve (FED) have managed the new economic realities that have emerged in the international context differently. Despite the criticisms, the European Central Bank is the European Union institution that has assumed more control due to the new model of economic governance of the EU. Why did the Federal Reserve act so nimbly and quickly to calm the markets, while the ECB was so cautious in managing monetary policy? The aim of this paper is to perform a comparative analysis of the management of interest rates and other monetary policy measures undertaken by the Central Bank and the Federal Reserve during the economic crisis, as well as to understand the changes in the context of the ECB and the emergence of its authority within the European Union's economic governance model since 2011. Thus, in order to carry out a scrupulous exposition, we will also limit the time frame of this study to the 2007-2014 period.