ESM reform and judicial protection: a missed opportunity?

The intervention will tackle the issue of legal remedies in the framework of the European Stability Mechanism (“ESM”), in order to identify the gaps in effective judicial protection resulting from the choice to set up the said mechanism ‘outside’ the EU legal order, by means of an international treaty concluded between the Euro Area Member States.
More specifically, the aim is to examine the (limited) legal remedies available to Member States, EU institutions and individuals to seek judicial review of legal acts adopted (and conducts carried out) pursuant to the ESM Treaty. To this end, both EU and national courts’ roles and case-law will be considered.
Particular attention will be paid to the ESM reform proposal currently under discussion, so as to assess the consequences, from the point of view of the fundamental right to effective judicial protection, of the abandonment of the idea of incorporating the ESM in the EU legal order by transforming it in a European Monetary Fund.