Dissertation: Die irische Souveränität im Spannungsfeld europäischer Finanzhilfen

Die irische Souveränität im Spannungsfeld europäischer Finanzhilfen

Unter Bezugnahme der von der Europäischen Zentralbank vorausgesetzten konditionalen Maßnahmen zur Auszahlung von Emergency Liquidity Assistance Krediten

Studien zum Völker- und Europarecht, Band 158

Hamburg 2018, 442 Seiten
ISBN 978-3-8300-9838-6 (Print/eBook)

ELA, ELA-Kredit, Emergency Liquidity Assistance, Europäische Zentralbank, EZB, Finanzhilfen, Finanzkrise, Irland, Konditionale Maßnahmen, Makroökonomisches Ungleichgewicht, Naturrecht, Rechtswissenschaft, Selbstbestimmung, Souveränität, Staatsschulden, ultra vires

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During the EU financial crisis Irish newspapers headlined about Ireland´s “lost economic sovereignty”. The bursting real estate bubble and the interbank trade created defaulted financial institutions, which were considered “too big to fail”. The Central Bank of Ireland disbursed ELA loans up to a critical limit. Thereupon to approve further ELA loans, the ECB demanded measures for financial stabilisation. The Irish government yielded to these conditions to rescue the Irish economy. Ireland´s solid public finances got into imbalance within shortest time. This way the banking crisis became a sovereign debt crisis.

The analysis of a possible lost of Irish sovereignty begins with a historical and legal cultural interpretation of sovereignty itself. References to ancient Ireland are examined as well as the relationship to the United Kingdom and the European Union. They serve as a basis for the meaning of national identity as well as the Irish understanding of popular sovereignty. Subsequently, the ECB measures are scrutinised of their legality. Key aspects are the ECJ´s and the Irish Supreme Court´s judicial control as well as the recognition of the demanded measures throughout a democratic decision-making process.



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