PROPERTY RIGHT LIMITATIONS WITHIN THE FIAT MONETARY SYSTEM OF THE EUROPEAN UNION
References: 4th International Multidisciplinary Scientific Conference on Social Sciences and Arts SGEM2017, www.sgemvienna.org, SGEM2017 Conference Proceedings, ISBN 978-619-7105-93-3 / ISSN 2367-5659, March 28-31, Book1, Vol.1, 421-428 pp, DOI:10.5593/SGEMSOCIAL2017/HB11/S02.053
In 2016 the European Union (EU) became centrally supervised regarding a unified regulation of the so-called Banking union, making also the area of the euro currency a monetary union with a common approach to integrated policy implementation in a non-federalized union. Since modern fiat, i.e., non-backed money creation within the EU banking system has not been affected by any legal reforms, the author has done legal research on its meaning for property rights of EU residents, especially in light of recent events such as the so-called Brexit which represents a regional divergence. The aim is to determine the legal framework and associated problems using descriptive, logical and deductive methodology within a doctrinal analysis for the enforcement of EU financial law relating to monetary stability and to give a simple assessment of possible solutions, especially in relation to monetary value protection capabilities. The author suggests to allow expressis verbis member states to hedge inflation risks by way of an EU directive to still respect regional economic differences.
Keywords: European Union, fiat money, property rights.
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