EU: Monetary policy Ie

More legal materials on economic and monetary union (EMU), especially monetary policy, for students of history, politics, economics and law, as well as for interested EU citizens.

There are a few declarations relevant to the EC Treaty chapter on monetary policy. The declarations are politically (not legally) binding, and they have been annexed to the final acts of the intergovernmental conferences leading to the treaties of Maastricht, Amsterdam and Nice, respectively.

The European Central Bank (ECB) has a convenient web page on offer:

http://www.ecb.europa.eu/ecb/legal/1341/96687/html/index.en.html

If you are interested in a broader view of the declarations:

The latest consolidated version of the treaties (OJ 29.12.2006 C 321 E) does not contain the joint declarations or the unilateral declarations by one or more member states, but the Constitutional Treaty offers a fair approximation of the declarations seen as relevant today (OJ 16.12.2004 C 310).

The collected and updated declarations annexed to the Final Act of the Intergovernmental Conference which adopted the Treaty of Lisbon are another approximative source of declarations still seen as relevant. The original Lisbon Treaty (OJ 17.12.2007 C 306) and the consolidated version (OJ 9.5.2008 C 115) differ as to the numbering of Articles.

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Declaration on Article 111 (ex Article 109) of the Treaty establishing the European Community OJ 29.7.1992 C 191/99 explained that the use of the term ‘formal agreements’ is not intended to create a new category of international agreement within the meaning of Community law.

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Declaration on Article 111 (ex Article 109), 174 (ex Article 130r) and 181 (ex Article 130y) of the Treaty establishing the European Community, OJ 29.7.1992 C 191/100, where the intergovernmental conference considered that the provisions did not affect the principles resulting from the judgment handed down in the AETR case.

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Declaration on disputes between the ECB and the EMI and their servants, OJ 29.7.1992 C 191/108, where the intergovernmental conference invited the institutions to adapt the relevant rules to let the Court of First Instance hear this class of actions.

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Declaration on the quality of the drafting of Community legislation, OJ 10.11.1997 C 340/139, on common guidelines for improving the quality of the drafting of Community legislation and on the acceleration of codification of legislative texts.

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Declaration on the provisions relating to transparency, access to documents and the fight against fraud, OJ 10.11.1997 C 340/140, placed the Treaty establishing the European Community as the model to be followed by the institutions when they acted within the context of the Treaty establishing the European Coal and Steel Community and the Treaty establishing the European Atomic Energy Community.

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Declaration on Article 111 of the Treaty establishing the European Community, OJ 10.3.2001 C 80/78, where the intergovernmental conference agreed that procedures shall be such as to enable all the Member States in the euro area to be fully involved in each stage of preparing the position of the Community at international level as regards issues of particular relevance to economic and monetary union.

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At treaty level, legally binding and worth mentioning again, we have the Protocol on the Statute of the European System of Central Banks and of the ECB (original OJ 29.7.1992 C 191/68)

In the consolidated version of the treaties, the 53 Articles of Protocol (No 18) on the Statute of the European System of Central Banks and of the ECB repeat and elaborate on the treaty provisions; located in OJ 29.12.2006 C 321 E/256─280.

The European Central Bank offers a web page with various versions, proposals and amendments:


http://www.ecb.europa.eu/ecb/legal/1341/1343/html/index.en.html

In the latest consolidated version of the treaties in force, the Statute is located in Protocol (No 18) in OJ 29.12.2006 C 321 E/256.

Not in force:

In the Treaty establishing a Constitution for Europe, we find the statute in Protocol (No 4), OJ 16.12.2004 C 310/225.

In the original Lisbon Treaty, look for Protocols to be annexed to the Treaty of Lisbon, IGC Protocol No 1 amending the Protocols annexed to the Treaty on European Union, to the Treaty establishing the European Community and/or to the Treaty establishing the European Atomic Energy Community, OJ 17.12.2007 C 306/163 (horizontal amendments) and from page 170 (specific amendments).

Protocol (No 4) on the statute of the European System of Central Banks and of the European Central Bank is presented in the consolidated version of the Treaty of Lisbon, OJ 9.5.2008 C 115/230.




Ralf Grahn