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22nd December 2020
Banking & Finance Institutional law Justice & Litigation

Op-Ed: “The Final Act on the Eurogroup and Effective Judicial Protection in the EU: Chrysostomides” by Menelaos Markakis and Anastasia Karatzia

What is the legal nature of the Eurogroup (fn 1)? Can the EU incur non-contractual liability on the basis of the acts and conduct of the Eurogroup? On 16 December 2020, the Court of Justice delivered its judgment on appeal in Chrysostomides (joined cases C-597/18 P, C-598/18 P, C-603/18 P and C-604/18 P), which originated from the Cypriot financial crisis (fn 2). The judgment concerns two appeals brought by the Council of the European Union against two judgments of the General Court (T-680/13 and T-786/14), inasmuch as they dismissed the pleas of inadmissibility related to the actions for damages directed against the Eurogroup. The applicants at first instance also appealed, asking the Court to set aside the two judgments. The General Co

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