Controlling the powers of the ECB : delegation, discretion, reasoning and care What Gauweiler, Weiss and others can teach us

Abstract

In the context of the developing European Economic and Monetary Union (EMU), questions of political and judicial means of control of the bodies central to shaping this policy are of great relevance. This paper looks at how responsibility towards political and judicial means of control can be ensured in reality and what the case law of the CJEU can teach about the accountability standards of a structurally independent executive body such as the ECB. In the inverse, it also looks at the more general lessons the CJEU’s Gauweiler case has for today’s understanding of the EMU as central part of EU public law.