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The European Central Bank’s duty of care for the unity and integrity of the internal market.

Schammo, P. (2017) 'The European Central Bank’s duty of care for the unity and integrity of the internal market.', European law review., 42 (1). pp. 3-26.

Abstract

As a result of the establishment of the Single Supervisory Mechanism, the European Central Bank (ECB) was vested with significant supervisory tasks in the prudential field. The ECB exercises these tasks with a view to contributing to the safety and soundness of credit institutions and the stability of the financial system. Besides its objectives, the ECB is, when exercising its tasks, also subject to a specific duty of care for the unity and integrity of the internal market. The fact that the ECB was vested with this duty is noteworthy. It is neither at first obvious why the ECB ought to be subject to such a special duty; nor is it clear what this duty precisely entails. The aim of this article is to examine the ECB’s duty of care and its raison d’être. In this process, it will offer suggestions on how the ECB ought to discharge it.

Item Type:Article
Full text:(AM) Accepted Manuscript
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Status:Peer-reviewed
Publisher Web site:http://www.sweetandmaxwell.co.uk/catalogue/productdetails.aspx?recordid=427&productid=6968
Publisher statement:This is a pre-copyedited, author-produced version of an article accepted for publication in European Law Review following peer review. The definitive published version Schammo, P. (2017). The European Central Bank’s duty of care for the unity and integrity of the internal market. European Law Review 42(1): 3-26 is available online on Westlaw UK or from Thomson Reuters DocDel service.
Date accepted:05 September 2016
Date deposited:30 September 2016
Date of first online publication:01 January 2017
Date first made open access:01 January 2018

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