Clash Between Guardians of The Economic Constitution

The ‘constitutionalization’ of monetary and budgetary policies by the EMU has led to a judicial shift in the challenges against these economic policies. In this respect, the sovereign debt crisis has catalyzed and revealed the underlying economic rationale behind the legal reasoning of some supreme courts, most notably the German Constitutional Court and the European Court of Justice. They both recognize the market as a normative body, but they clash over what it actually covers and implies. The result is therefore a paradoxical politicization of the ‘constitutional’ judge as guardian of a depoliticized and objectivized market order.