|Author (Person)||Lokdam, Hjalte|
|Series Title||Journal of Common Market Studies|
|Series Details||Volume 58, Number 4, Pages 978-998|
|Publication Date||July 2020|
|Content Type||Journal Article|
In the wake of the Euro crisis, the mission statement on the European Central Bank's (ECB) website was changed from ‘Our mission is to serve Europe's citizens’ to ‘Our mission is to serve the people of Europe’. This article situates this discursive shift within a broader change of the ECB's self‐presentation in public discourses and explores its meaning in terms of political theory and public law.
The article argues that the shift represents a response to the perceived necessity of reimagining the ECB's foundation of legitimate governmental authority following its exercise of emergency powers during the Euro crisis. The discourse emphasizes an organic link between the ECB and ‘the people of Europe’ as a political subject able to authorize previously unauthorized governmental practices such as the outright monetary transactions programme. It reflects, furthermore, a new governing philosophy that stresses flexibility and discretion rather than strict adherence to rules in the ECB's exercise of power.
|Subject Categories||Economic and Financial Affairs|
|Keywords||European Central Bank [ECB], Public Communication | Narratives
|International Organisations||European Union [EU]|