Is Contemporary Public Law Enough? Domestic, European, and International Law Reflections on the ESM Reform and the ESM Pandemic Crisis Support
The ESM has been established in 2012 outside the formal EU legal framework by means of an intergovernmental treaty. In December 2017, the EU Commission presented a proposal for a Regulation on the integration of the ESM into the EU legal framework. In 2018 the Countries adopting the Euro currency started discussing its reform. In December 2019, a package of reforms was severely criticized by many voices, since it was considered a “missed opportunity to secure a broader and more ambitious reform package“. In January 2021, the proposed agreement amending the ESM treaty was concluded. A reflection on this contested process of reform opens a multidisciplinary panel, composed of reflections from constitutional, international, and EU law scholars. The reform has been taken far from public debates within national parliaments – the basic international law rules on these kinds of negotiations do not require a specific standard of transparency and accountability.