Democratic Legitimacy of the Single Resolution Board: Is Legality the Right Question?

Mendes, Joana

Reference : Democratic Legitimacy of the Single Resolution Board: Is Legality the Right Question?


	Document type :	E-prints/Working papers : Already available on another site
	Discipline(s) :	Law, criminology & political science : European & international law
	Focus Areas :	Law / European Law
	To cite this reference:	http://hdl.handle.net/10993/46668

Title :	Democratic Legitimacy of the Single Resolution Board: Is Legality the Right Question?
Language :	English
Author, co-author :	Mendes, Joana [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Department of Law (DL) >]
Publication date :	Mar-2021
Publisher :	Banca d'Italia
Collection and collection volume :	Quadrerni di Ricerca Giuridica della Consulenza Legale
Peer reviewed :	No
Keywords :	[en] legitimacy ; legality ; judicial review ; Single Resolution Board
Abstract :	[en] The choice to entrust EU banking resolution to an independent body opened the familiar democratic legitimacy conundrum that besets independent institutions in national and in EU law. This paper examines both the conventional view on the relationship between legality control and democratic legitimacy, that the German Federal Constitutional Court endorsed in its SSM/SRM judgment, and the limits of such conception. Conceived as a “compensatory measure”, legal protection through judicial review and internal administrative review enables the Court to bring independent institutions within the (national) constitutional framework that they strain. Law’s binding character becomes a matter of ensuring not only the rule of law but also democracy. Yet, even detailed legal mandates cannot preclude administrative bodies to define the way law is completed and concretised. While the Court does not adhere to a ‘transmission-belt model’ of administrations, not surprisingly – as a court deciding on democratic legitimacy – it falls short of recognising that legality can do very little to ground the democratic legitimacy of fundamental political choices, such as those entrusted to the Single Resolution Board.
Target :	Researchers ; Professionals
Permalink :	http://hdl.handle.net/10993/46668
Other URL :	https://www.bancaditalia.it/pubblicazioni/quaderni-giuridici/2021-0091/qrg-91.pdf
source URL :	https://www.bancaditalia.it/pubblicazioni/quaderni-giuridici/2021-0091/qrg-91.pdf

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