Amsterdam Centre for European Law and Governance

ACELG Seminar: 'EMU and Greece'

Professor René Smits

27Apr2010 13:00 - 14:00


Tuesday, 27 April 2010, 13:00 University of Amsterdam, Faculty of Law, room E 1.08


Professor René Smits is Professor of the Law of Economic and Monetary Union at the University of Amsterdam and Chief Legal Counsel at the Netherlands Competition Authority.


The credit crisis fall-out now touches the area of sovereign risk with hedge funds and banks allegedly colluding against the euro and betting on a Greek default. Greece has twice misinformed its partners and the Commission about the state of its public finances. Greece is now one of the worst crisis-hit economies in the euro area. Its deficit cutting budget and its efforts to continue borrowing, but at vastly increased cost, hit the headlines every day.

The Greek crisis brings forth several questions, such as the application of the convergence criteria for admission to the euro area, the execessive deficit procedure and the lack of adequate decision-making mechanism to react to crises situations. Also, the question of economic governance of the euro area and even the question of membership of the euro area and the European Union come to the fore.

Professor Smits will discuss these issues from a legal angle and will try to elucidate some of the issues that are so confusingly and lightly mentioned in the press: no bail-out, exit or even expulsion from the euro zone, and so forth.

Venue and registration

Venue: University of Amsterdam, Faculty of Law, room E 1.08
Time and Date: Tuesday, 27 April 2010, 13:00

If you do wish to attend, please sign up by sending an email to

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