Relief from office of the governor of the national central bank and role of the Court of Justice: Independence justifies the control. Commentary of the judgment of the Court (Grand Chamber) of 26 February 2019, Rimšēvičs and ECB/Latvia
DOI:
https://doi.org/10.18042/cepc/rdce.63.08Keywords:
Article 14.2, second subparagraph, of the Statute of the European System of Central Banks and of the European Central Bank, relief from office, national act, jurisdiction of the Court, action for annulment, independence of the governor of the national cenAbstract
Faced with an unprecedented situation, such as the provisional prohibition of the exercise of functions by a national administrative authority with respect to the governor of the central bank of Latvia, the Court of Justice addresses for the first time the nature and scope of the remedy regulated in art. 14.2, second subparagraph, of the Statute of the ESCB and the ECB. In order to ensure the independence and proper functioning of the ESCB, the CJ affirms its jurisdiction by a broad interpretation of the concept of relief from office and decides on the nature of the procedure, considering that it is a specific action of annulment within the system of legal remedies laid down by the Treaties. In the absence of any evidence capable of establishing the existence of sufficient indications as regards whether the accusations made against the governor, the court considers that Latvia has not proven the existence of serious misconduct and annuls the national act, which is an unprecedented decision that is justified by the novel legal construction which constitutes the ESCB.Published
2019-07-31
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CASE LAW COURT OF JUSTICE OF THE EU
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