CYIL vol. 12 (2021)

CYIL 12 (2021) THE ROLE OF COURT OF JUSTICE OF THE EU in inter se agreements … In the case of TSCG, the close correlation with the European legal system is particularly evident in the light of art. 2 of the EC Treaty, which imposes a duty of interpretation consistent with the agreement to the “Treaties on which the European Union is founded” (par. 1) 17 , on the other hand explicitly subordinates its effectiveness to the compatibility with these and secondary law (par. 2), according to a model already followed in the past 18 . The link between TSCG and EU law also results from the provision pursuant to art. 10 TCE 19 , which affirms the willingness of the contracting parties to adopt, “where appropriate and necessary”, specific measures to the Member States whose currency is the euro pursuant to art. 136 TFEU and to make use of the provisions on enhanced cooperation “in matters essential to the proper functioning of the euro area” 20 . Article 2(2) of the TSCG provides that it “shall apply insofar as it is compatible with the Treaties on which the European Union is founded and with European Union law. It shall not encroach upon the competence of Siebeck, Tübingen, 2020. SCHORKOPF, F. Der Europäische Weg , Mohr Siebeck, Tübingen, 2020. LIŇÁN NOGUERAS, D. J., MANGAS MARTÍN, A. Instituciones y derecho de la Unión europea , Editorial Tecnos, Madrid, 2020. SARMIENTO, D. El derecho de la Unión europea , Marcial Pons, Madrid, 2020. DEL POZO, M., FRANCISCO, C. El Tribunal de Justicia de la Uniòn Europea. Prcoedimento y recursos , Editorial Aranzadi, Pamplona, 2020. 17 BOGDANDY, A.V., ANTPÖHLER, C., IOANNIDIS, M. Protecting EU values-Reverse Solange and the rule of law framework , MPHIL Research Paper Series, 2016. No. 04. MOORHEAD, T. The values of the European Union legal order, in European Journal of Law Reform , 16 (3), 2014, pp. 6ss. WEATHERILL, S. Law and values in the European Union , Oxford University Press, Oxford, 2016, pp. 395ss. 18 See, for example, the art. 47, par. 1 of the Prüm Convention, which states that: “(…) provisions of this Treaty shall be applicable only to the extent to which they are compatible with European Union law. If the European Union establishes future regulations on the field of application of this Treaty, European Union law will prevail over the relevant provisions of this Treaty with regard to their application. The Contracting Parties may amend or replace the provisions of this Treaty on the basis of the new provisions on this subject in the law of the European Union (…)”. 19 CRAIG, P. The Lisbon treaty. Law, politics and treaty reform , Oxford University Press, Oxford, 2012. CUESTA LOPEZ, V. The Lisbon treaty‘s provisions on demoratic principles. A legal framework for participatory democracy, in European public Law , 13 (1), 2010, pp. 123ss. TUORI, K. The European financial crisis. Constitutional aspects and implications , in EUIWorking papers-law 2012/28, pp. 4ss. BOGDANDY, A. The European lesson for international democracy. The significance of articles 9 to 12 EU Treaty for International Organizations , in Jean Monnet Working papers, n. 2/2011. POIARES MADURO, M., WITTE, B., KUMM, M. The euro crisis and the demoratic governance of the euro: Legal and political issues of a fiscal crisis , in RSCAS Policy Papers 2012/08. BINDER, J.H. Komplexitätsbewältigung durch Verwaltungsverfahren? Krisenbewältigung und Krisenprävention nach der EU- Bankensnierungs und Abwicklungsrichlinie, in Zeitschrift für das gesamte Handelsrecht undWirtschaftesrecht, 173 (1), 2015, pp. 84ss. 20 ATHANASIOU, P. Of past measures and future plans for Europes exit from the sovereign debt crisis: What is legaly possible (and what is not), in European Law Review , 36 (3), 2011, pp. 558ss. BELKE, A. The euro area crisis management framework: Consequences for convergence and institutional follow-ups, in Journal of Economic Integration , 26 (6), 2011, pp. 672ss. CHALTIEL, F. Le Traité sur la stabilité, la coordination et la gouvernance: Du fédéralisme monétaire au fedéralisme budgétaire, in Revue du Droit de l’Union Européenne , 2, 2012, pp. 293ss. DÉVOLUY, M. L‘euro est-il un échec?, ed. LGDG, Paris, 2012. GOLDBACH, R., FAHRHOL, C. The euro areas common default risk: Evidence on the Commission‘s impact on European fiscal affaire, in European Foreign Affairsm Review , 16 (4), 2011, pp. 508ss. HODSON, D. Governing the euro area in good times and bad , Oxford University Press, Oxford, 2011, pp. 40ss. HUGHUES HALLET, A., HOUGAARD JEMSEN, S. E. Fiscal governance in the euro area: Institutions v. rules, in Journal of European Public Policy , 26 (5), 2012, pp. 646ss. RUFFERT, M. The European debt crisis and European Union law, in Common Market Law Review , 2011, 48 (4), pp. 1777ss. RANDALL HENNING, C. KESSLER, M. Fiscal federalism: US history for architects of Europe‘s fiscal Union , in Peterson Institute for International Economic Working Paper Series, 2012.


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