ΑΝΕΞΑΡΤΗΣΙΑ ΚΑΙ ΛΟΓΟΔΟΣΙΑ ΤΩΝ ΚΕΝΤΡΙΚΩΝ ΤΡΑΠΕΖΩΝ ΣΤΗ ΦΙΛΕΛΕΥΘΕΡΗ ΔΗΜΟΚΡΑΤΙΑ

Central Bank Independence and Accountability in Liberal Democracy Comparative Research on the Independence and Accountability of the European Central Bank and the Federal Reserve System Dr. iur. Yiannis S. Angelou Administrative Law Judge Postdoctoral Researcher, University of Athens Law School ISBN 978-960-654-424-8 Abstract: This book is dealing with the subject of central bank independence and accountability in liberal democracy. The issues arising are examined, at first, in ab- stracto, from both the‘traditional constitutionalism’s’point of view, as well as within the context of the modern financial system and the constitutional pluralism. Sub- sequently, the theoretical findings above are being concretized through the com- parative research of the independence and accountability status of the European Central Bank and the Federal Reserve System. In conclusion, it is suggested that the balancebetweencentralbanks’independenceandeffectiveaccountability isthekey for their dogmatic compatibility with liberal democracy; to maintain that balance, accountability mechanisms (mainly the judiciary, which, as it is shown, stands as the mosteffectiveandefficientvetoplayertowardscentralbank independence)needto evolve and cope with the technocratic superiority of the central banks. COPYRIGHT All rights reserved. No part of this publicationmay be reproduced, stored in a retriev- al system, or transmitted, in any form or by any means, without the prior permis- sion of NOMIKI BIBLIOTHIKI S.A., or as expressly permitted by law or under the terms agreed with the appropriate reprographic rights organization. Enquiries concerning reproduction which may not be covered by the above should be addressed to NO- MIKI BIBLIOTHIKI S.A. at the address below. DISCLAIMER The content of this work is intended for information purposes only and should not be treated as legal advice.The publication is necessarily of a general nature; NOMIKI BIBLIOTHIKI, the author and the contributors make no claim as to the comprehen- siveness or accuracy of the information provided; Information is not offered for the purpose of providing individualized legal advice. Professional advice should there- fore be sought before any action is undertaken based on this publication. Use of this work does not create an attorney-client or any other relationship between the user and NOMIKI BIBLIOTHIKI, or the author, or the rest of contributors. Also available at: www. qualex .gr 23 Mavromichali str. | 106 80 | Athens | Greece T +30 210 3678 800  |  F +30 210 3678 819 www.nb.org  |  info@nb.org © 2021, NOMIKI BIBLIOTHIKI S.A. LawPublishers inEurope