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Max Planck Encyclopedia of Public International Law [MPEPIL]

Monetary Law, European

Mads Andenas

From: Oxford Public International Law (http://opil.ouplaw.com). (c) Oxford University Press, 2021. All Rights Reserved.date: 15 October 2021

Subject(s):
International monetary law

Published under the auspices of the Max Planck Institute for Comparative Public Law and International Law under the direction of Professor Anne Peters (2021–) and Professor Rüdiger Wolfrum (2004–2020). 

1 The European Economic and Monetary Union, with the introduction of the euro as a common currency, has given rise to a new field of law. This field, European monetary law, also includes the private law rules on the transition to the euro, and EU regulation of monetary transactions. The private law rules are closely related to the institutional and public law rules. In the context of private international law, ‘monetary law’ is the law that defines the currency in which a debt is to be paid. Under freedom of contract, parties can decide their currency. Having made...
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