The ECB’s Evolving Mandate and High Independence: An Undemocratic Mix
After over a decade of crisis, the ECB’s functions have expanded considerably. The ECB’s activities during the eurozone crisis, new debates on the ECB’s role in supporting political goals like the fight against climate change, and its participation in geopolitical stand-offs have overcome the fictio...
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| Language: | English |
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Cogitatio
2025-01-01
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| Series: | Politics and Governance |
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| Online Access: | https://www.cogitatiopress.com/politicsandgovernance/article/view/9811 |
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| author | Anna-Lena Högenauer Joana Mendes |
| author_facet | Anna-Lena Högenauer Joana Mendes |
| author_sort | Anna-Lena Högenauer |
| collection | DOAJ |
| description | After over a decade of crisis, the ECB’s functions have expanded considerably. The ECB’s activities during the eurozone crisis, new debates on the ECB’s role in supporting political goals like the fight against climate change, and its participation in geopolitical stand-offs have overcome the fiction of a technocratic role that can be allocated to an independent institution with few constraints to democracy. We highlight how the ECB’s mandate has been (re)interpreted while eschewing the impact of this change on its independence. Drawing on the contributions to this thematic issue, we also argue that the limited legal and political accountability does not match the evolving mandate. In particular, we contrast the voluntary mechanisms of accountability created in the past years and the judicial endorsement of the expansion of the ECB’s mandate. |
| format | Article |
| id | doaj-art-14ab670bec034152ae0eaa5a27521c2c |
| institution | Kabale University |
| issn | 2183-2463 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Cogitatio |
| record_format | Article |
| series | Politics and Governance |
| spelling | doaj-art-14ab670bec034152ae0eaa5a27521c2c2025-01-30T10:39:25ZengCogitatioPolitics and Governance2183-24632025-01-0113010.17645/pag.98113976The ECB’s Evolving Mandate and High Independence: An Undemocratic MixAnna-Lena Högenauer0Joana Mendes1Department of Social Sciences, University of Luxembourg, LuxembourgDepartment of Law, University of Luxembourg, LuxembourgAfter over a decade of crisis, the ECB’s functions have expanded considerably. The ECB’s activities during the eurozone crisis, new debates on the ECB’s role in supporting political goals like the fight against climate change, and its participation in geopolitical stand-offs have overcome the fiction of a technocratic role that can be allocated to an independent institution with few constraints to democracy. We highlight how the ECB’s mandate has been (re)interpreted while eschewing the impact of this change on its independence. Drawing on the contributions to this thematic issue, we also argue that the limited legal and political accountability does not match the evolving mandate. In particular, we contrast the voluntary mechanisms of accountability created in the past years and the judicial endorsement of the expansion of the ECB’s mandate.https://www.cogitatiopress.com/politicsandgovernance/article/view/9811accountabilityeuropean central bankeuropean parliamenteurozone crisisindependenceinflationjudicial reviewmandate |
| spellingShingle | Anna-Lena Högenauer Joana Mendes The ECB’s Evolving Mandate and High Independence: An Undemocratic Mix Politics and Governance accountability european central bank european parliament eurozone crisis independence inflation judicial review mandate |
| title | The ECB’s Evolving Mandate and High Independence: An Undemocratic Mix |
| title_full | The ECB’s Evolving Mandate and High Independence: An Undemocratic Mix |
| title_fullStr | The ECB’s Evolving Mandate and High Independence: An Undemocratic Mix |
| title_full_unstemmed | The ECB’s Evolving Mandate and High Independence: An Undemocratic Mix |
| title_short | The ECB’s Evolving Mandate and High Independence: An Undemocratic Mix |
| title_sort | ecb s evolving mandate and high independence an undemocratic mix |
| topic | accountability european central bank european parliament eurozone crisis independence inflation judicial review mandate |
| url | https://www.cogitatiopress.com/politicsandgovernance/article/view/9811 |
| work_keys_str_mv | AT annalenahogenauer theecbsevolvingmandateandhighindependenceanundemocraticmix AT joanamendes theecbsevolvingmandateandhighindependenceanundemocraticmix AT annalenahogenauer ecbsevolvingmandateandhighindependenceanundemocraticmix AT joanamendes ecbsevolvingmandateandhighindependenceanundemocraticmix |