Justification of unconventional ECB policies: an interdisciplinary perspective

Abstract

This thesis will search for grounds of justification for some of the unconventional policies from the European Central Bank, from an interdisciplinary perspective. From an economic perspective, the context in which the ECB operates will be described, followed by an evaluation on the unconventional policy of quantitative easing. The discipline of international relations will take a closer look at the case study in which the ECB pressured fiscal reforms in Italy during the Euro Crisis of 2012. A moral framework for the justification for the policies mentioned above, will be provided by the ethical discipline. The conclusion of this thesis will be based in the value of well-being, from the perspective of the Member States of the Eurozone. The different effects of the ECB policies on the well-being of the member states is therefore decisive for the justification of the ECB policies.