The Legal Instruments of EU Fiscal and Monetary Stability
pages 327 - 340
ABSTRACT:

This article analyses the legal instruments enhancing the coordination of monetary stability in the eurozone. In order to meet the aims set in its main treaties, the European Union has been adopting legal instruments in a concerted action with its Member States since 2010, to foster the coordination of their economic policies and improve the functioning of the euro area (eurozone). By introducing these measures, the European Union has been eliminating potential risks associated with weakening the stability of the euro area and committing the Member States to a higher responsibility for abiding by jointly agreed-upon rules. As the legal instruments of monetary policy coordination did not meet requested expectations the international treaties have also become the legal instruments for the coordination of monetary and fiscal relations among the euro area Member States and the EU Member States.

keywords
monetary stability
euro area
international financial institution
fiscal treaty
about the authors

Daniela Nováčková is an associate professor at the Faculty of Management of Comenius University in Bratislava and a Coordinator of the German Programme. In her academic work she has focused on European Economic Integration and Bilateral Investment Treaties. She has experience in approximation of European Law as a former expert of the Ministry of Finance of the Slovak Republic (1994-2004). She has published numerous articles in professional journals.

e-mail: daniela.novackova@fm.uniba.sk