The ESM. A Breach of the Treaties? - The Value of European Law in the Euro-Crisis

Seminar paper from the year 2013 in the subject Law - European and International Law, Intellectual Properties, Leuven Catholic University, language: English, abstract: The purpose of this paper is to discuss the role of the European Law in the crisis. Laws are rules for a crisis. When humans are living together, that has always been accompanied by conflicts. That's why law was made. It is a preventive guideline for a future 'crisis' - in the small sphere between arguing neighbours, but also for big issues. We will examine how the law was followed here. The example is the European Stability Mechanism (ESM). After a brief explanation on what the ESM is and why it was established, the compliance with European Law will be discussed by going through the ECJ's judgement in the 'Pringle-Case' from November 2012. Secondly the paper will refer to the German Federal Court's 'ESM- judgement', which was published two months earlier.