Assessing and (Re-)situating Today's ECB in the EU's Institutional Landscape

Diane Fromage (1)

1 EdD - École de Droit de Sciences Po (Sciences Po)

This chapter analyses the evolution of the European Central Bank (ECB)’s institutional structures – which it finds to have indeed been great since its creation – and compares them to that of other European Union institutions and bodies. It also shows that the dual national and European nature of the National Central Banks and their governors has given rise to tensions and varying dynamics between supranational and national logics. The analysis provided concludes among other things that the institutional logics that govern today’s ECB are somewhere between those of the supranational Commission and the intergovernmental Council, although in some ways the Supervisory Board could also be compared to EU agencies. It also outlines what the existing challenges might be in terms of accountability as a result of the existing (varying) institutional structures of the ECB.

Keywords: European Central Bank; Institutional logic; National Central Banks; EU multilevel governance; Accountability

Domains: Humanities and Social Sciences; Law

Diane Fromage. Assessing and (Re-)situating Today's ECB in the EU's Institutional Landscape. Thomas Beukers; Diane Fromage; Giorgio Monti. The New European Central Bank: Taking Stock and Looking Ahead, Oxford University Press, In press, 9780198871231. ⟨hal-03702559⟩