This dissertation was written as a part of the LLM in Transnational and
European Commercial Law, Banking Law, Arbitration/Mediation at the
International Hellenic University. The scope of this research is the role of
the European Central Bank in combating the challenges of the biggest
economic crisis of the recent years and how important the policies of
the ECB are to everyday people and financial stability.
The way the supervisory authorities and the central bank maintain a
balance in the euro zone and help to keep prices stable is of upmost
importance. The European central bank tries hard to maintain the value
of the euro as a currency that affects every European’s everyday live and
economic power. The role of the European Central Bank is also to ensure
that the banking sector is healthy and our savings are safe from systemic
risks both from within the eurozone and from outside parameters. The
global financial crisis back in 2007 has shown how problems in the
banking sector of one country can easily spread to another country and
the whole economic system of Europe. At the same time, the COVID-19
pandemic has affected severely world’s economy. In this light, this
dissertation refers to the way that the ECB approached these economic
crises, the measures that it has taken and the legality and effectiveness
of its actions as well. Will the banks prove once again that they are the
power cell of the modern economy?
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