'Economic and monetary policy after Pringle': Professor Simon Deakin
On 8th March 2013, the Centre for European Legal Studies (CELS) organised a workshop on one of the most significant cases heard in the Court of Justice of the European Union. The informal colloquium sought to exchange ideas between younger and more seasoned European lawyers. The so-called Pringle case (Case C-370/12) was decided on the 27th November 2012, and its consequences are expected to shape the future of European (financial) integration for years. Based on the preliminary reference by the Irish Supreme Court, all 27 Court of Justice judges were called to answer questions about the legality of the European Stability Mechanism Treaty (ESM Treaty). While some commentators doubted the legality of ESM actions outside the EU framework, the Court resoundingly rejected this challenge and arguably opened up further avenues to achieve greater fiscal and economic integration for Euro countries. While the financial crisis and the stability of the Eurozone were at the heart of this judgment, it is expected to have far greater significance for the future of European integration in general and for the future of the UK in the EU in particular. This seminar explores the legal lessons and consequences of this judgment.