The crisis response in Europe’s Economic and Monetary Union: overview of legal developments

Writing about developments in Europe’s Economic and Monetary Union ("EMU") at this juncture in time is a bold endeavour and a hazardous undertaking. ‘Bold’ because the developments are manifold, highly technical in nature and deeply contested among the players and the public—between Greeks and Germans, between mainstream political parties and (emerging) parties taking a different view, and between politicians and the electorate. ‘Hazardous’ as developments go so fast that these lines shall be partially outdated the moment they appear in published form. And yet, there is a need to explore and explain. That’s what this contribution seeks to do: to explore and explain the developments in EMU law. An occasional aside from the legal approach will be undertaken to broaden the perspective.