Judicial review of complex assessments in the EMU: a bastion of technical discretion?

The Commission's, the ECB's, and independent regulatory authorities' powers granted during the financial crisis are increasingly being challenged in front of the CJEU. What standard of review is the Court applying to the measures resulting from such powers? As they often include complex economic assessments, it could be expected that the Court carries out only a limited review, due to the need to respect the decision-maker’s technical discretion. Areas such as risk regulation and competition law, however, have witnessed an evolution of the space granted to technical discretion, leading to a stricter scrutiny of complex technical assessments. The paper sets out to investigate whether this is the case also in the EMU. It inquires how technical discretion is framed by the Court, on what grounds such discretion is granted to the administration and whether the Court’s approach to complex assessment in the context of the EMU is following a similar trajectory of enhanced judicial control.