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Outright Monetary Transactions Case
''Outright Monetary Transactions case'' (2014is an EU law case, concerning preliminary references to the Court of Justice of the European Union. Facts In September 2012, the European Central Bank Governing Council adopted a decision on Technical Features of Outright Monetary Transactions (OMT). This authorised emergency and confidential purchases of unlimited government bonds of member states in financial difficulty, if they could not obtain sustainable interest rates in open financial markets. It did so under conditions that the member state would pursue reform under the European Financial Stability Forum or the European Stability Mechanism. The decision was authority, and was not yet in effect. But the mere publication of the ECB’s intention was enough to calm financial markets. A challenge was brought in Germany as to whether this was compatible with the Treaty on the Functioning of the European Union. Judgment The German Constitutional Court made a preliminary reference, as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Court Of Justice
The European Court of Justice (ECJ, french: Cour de Justice européenne), formally just the Court of Justice, is the supreme court of the European Union in matters of European Union law. As a part of the Court of Justice of the European Union, it is tasked with interpreting EU law and ensuring its uniform application across all EU member states under Article 263 of the Treaty of the Functioning of the European Union (TFEU). The Court was established in 1952, and is based in Luxembourg. It is composed of one judge per member state – currently – although it normally hears cases in panels of three, five or fifteen judges. The Court has been led by president Koen Lenaerts since 2015. The ECJ is the highest court of the European Union in matters of Union law, but not national law. It is not possible to appeal against the decisions of national courts in the ECJ, but rather national courts refer questions of EU law to the ECJ. However, it is ultimately for the national court ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Preliminary Ruling
A preliminary ruling is a decision of the European Court of Justice (ECJ) on the interpretation of European Union law that is given in response to a request (preliminary reference) from a court or a tribunal of a member state. A preliminary ruling is a final determination of European Union law, with no scope for appeal. The ECJ hands down its decision to the referring court, which is then obliged to implement the ruling. Preliminary rulings are issued by the ECJ. The Treaty of Lisbon provides that jurisdiction may be delegated to the General Court, but that provision has yet to be put into effect. If, as in '' Factortame'', the ECJ holds that a member state's legislation conflicts with EU law, the member state is required to "disapply" such law, but the ECJ may not amend the member state's legislation itself. Preliminary rulings make up the bulk of business in the Court of Justice of the European Union since few persons have ''locus standi'' to litigate in the Luxembourg court. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
EU Law
European Union law is a system of rules operating within the member states of the European Union (EU). Since the founding of the European Coal and Steel Community following World War II, the EU has developed the aim to "promote peace, its values and the well-being of its peoples". The EU has political institutions, social and economic policies, which transcend nation states for the purpose of cooperation and human development. According to its Court of Justice the EU represents "a new legal order of international law".''Van Gend en Loos v Nederlandse Administratie der Belastingen'' (1963Case 26/62/ref> The EU's legal foundations are the Treaty on European Union and the Treaty on the Functioning of the European Union, currently unanimously agreed on by the governments of 27 member states. New members may join if they agree to follow the rules of the union, and existing states may leave according to their "own constitutional requirements".TEart 50 On the most sophisticated disc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Preliminary References
A preliminary ruling is a decision of the European Court of Justice (ECJ) on the interpretation of European Union law that is given in response to a request (preliminary reference) from a court or a tribunal of a member state. A preliminary ruling is a final determination of European Union law, with no scope for appeal. The ECJ hands down its decision to the referring court, which is then obliged to implement the ruling. Preliminary rulings are issued by the ECJ. The Treaty of Lisbon provides that jurisdiction may be delegated to the General Court, but that provision has yet to be put into effect. If, as in '' Factortame'', the ECJ holds that a member state's legislation conflicts with EU law, the member state is required to "disapply" such law, but the ECJ may not amend the member state's legislation itself. Preliminary rulings make up the bulk of business in the Court of Justice of the European Union since few persons have ''locus standi'' to litigate in the Luxembourg court ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Court Of Justice Of The European Union
The Court of Justice of the European Union (CJEU) (french: Cour de justice de l'Union européenne or "''CJUE''"; Latin: Curia) is the Judiciary, judicial branch of the European Union (EU). Seated in the Kirchberg, Luxembourg, Kirchberg quarter of Luxembourg City, Luxembourg, this EU institution consists of two separate courts: the European Court of Justice, Court of Justice and the General Court (European Union), General Court. From 2005 to 2016 it also contained the European Union Civil Service Tribunal, Civil Service Tribunal. It has a ''sui generis'' court system, meaning ’of its own kind’, and is a supranational institution. The CJEU is the chief judicial authority of the European Union and oversees the uniform application and interpretation of European Union law, in co-operation with the national judiciary of the member states. The CJEU also resolves legal disputes between national governments and EU institutions, and may take action against EU institutions on behalf ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Central Bank
The European Central Bank (ECB) is the prime component of the monetary Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's Big Four (banking)#International use, most important central banks. The Governing Council of the European Central Bank, ECB Governing Council makes the projects for the monetary policy for the European Union with suggestions and recommendations and to the Eurozone with more direct applications of such policies, it also administers the foreign exchange reserves of EU member states in the Eurozone, engages in foreign exchange operations, and defines the intermediate monetary aims and objectives, and also the common interest rates for the EU. The Executive Board of the European Central Bank, ECB Executive Board makes policies and decisions of the Governing Council, and may give direction to the national central banks, especially when doing so for the Eurozone central ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Constitutional Court
The Federal Constitutional Court (german: link=no, Bundesverfassungsgericht ; abbreviated: ) is the supreme constitutional court for the Federal Republic of Germany, established by the constitution or Basic Law () of Germany. Since its inception with the beginning of the post-World War II republic, the court has been located in the city of Karlsruhe, which is also the seat of the Federal Court of Justice. The main task of the Federal Constitutional Court is judicial review, and it may declare legislation unconstitutional, thus rendering them ineffective. In this respect, it is similar to other supreme courts with judicial review powers, yet the court possesses a number of additional powers and is regarded as among the most interventionist and powerful national courts in the world. Unlike other supreme courts, the constitutional court is not an integral stage of the judicial or appeals process (aside from cases concerning constitutional or public international law), and does ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
TFEU
The Treaty on the Functioning of the European Union (TFEU) is one of two treaties forming the constitutional basis of the European Union (EU), the other being the Treaty on European Union (TEU). It was previously known as the Treaty Establishing the European Community (TEC). The Treaty originated as the Treaty of Rome (fully the ''Treaty establishing the European Economic Community''), which brought about the creation of the European Economic Community (EEC), the best-known of the European Communities (EC). It was signed on 25 March 1957 by Belgium, France, Italy, Luxembourg, the Netherlands and West Germany and came into force on 1 January 1958. It remains one of the two most important treaties in the modern-day European Union (EU). Its name has been amended twice since 1957. The Maastricht Treaty of 1992 removed the word "economic" from the Treaty of Rome's official title and, in 2009, the Treaty of Lisbon renamed it the "Treaty on the Functioning of the European Union". F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union Law
European Union law is a system of rules operating within the member states of the European Union (EU). Since the founding of the European Coal and Steel Community following World War II, the EU has developed the aim to "promote peace, its values and the well-being of its peoples". The EU has political institutions, social and economic policies, which transcend nation states for the purpose of cooperation and human development. According to its Court of Justice the EU represents "a new legal order of international law".''Van Gend en Loos v Nederlandse Administratie der Belastingen'' (1963Case 26/62/ref> The EU's legal foundations are the Treaty on European Union and the Treaty on the Functioning of the European Union, currently unanimously agreed on by the governments of 27 member states. New members may join if they agree to follow the rules of the union, and existing states may leave according to their "own constitutional requirements".TEart 50 On the most sophisticated discu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
