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1 results

  • 5 - The Single Supervisory Mechanism

  • Ana Bobić, Court of Justice of the European Union
  • Book:
    The Individual in the Economic and Monetary Union
    Published online:
    04 January 2024
    Print publication:
    25 January 2024, pp 138-170
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  • Summary

    This chapter deals with the Single Supervisory Mechanism (SSM), which is designed as a composite structure, where supervisory tasks are carried out by the European Central Bank and national supervisory authorities. Crucially, both supervisors apply the EU as well as national law. That structure muddles the available accountability routes for the individual. The chapter first presents the legal framework and the organisation of the SSM. highlighting a number of accountability distortions problematic for the political equality of citizens. The chapter next focuses on the judicial review concerning the SSM at the EU level, including the jurisprudence of the General Court and the Court of Justice. This analysis is once again conducted in respect of the national level. In both instances, the chapter looks specifically at how courts dealt with questions of access, remedies, and any possible interpretation of the principles of equality and solidarity. The chapter finally reflects upon the role that judicial interactions play in delivering legal accountability within the SSM.