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Whether fighting inflation or deflation, it has been a decade since the European Central Bank (ECB) managed to successfully attain its Treaty-mandated objective, that is, price stability. This is defined by the Bank itself as maintaining an inflation target of 'below but close to 2% over the medium term' and, since 2021, as '2% over the medium term'. The further reality has veered from policy, the more attention has been brought to the redistributive choices, both implicit and explicit, in the ECB's pursuit of price stability. The current article analyses this debate in the context of the legal terms stipulated in the Treaty on the Functioning of the European Union, conceptualised as a function of monetarist theory. It claims that the ECB's failure to deliver on its price stability objective has contributed to intensifying the re-politicisation of monetary policy, cast doubt on the presumed legitimacy of foundational monetarist theory and caused a legal struggle within EU constitutionalism to sustain a stable distinction between economic and monetary policy. [ABSTRACT FROM AUTHOR]

Since the end of World War II, the USA has maintained a sizable military presence around the world. As one of the main mechanisms that the USA uses to exercise its military power abroad, it is a defining characteristic of the international order. Using time-series cross-sectional models and case evidence, I show that, in addition to strategic considerations, the President's party strength in Congress and the proportion of moderates in the Senate are key determinants of US deployment outcomes. This finding adds to the literature on causes of US troop deployments by examining the incentives for deployments within US politics. [ABSTRACT FROM AUTHOR]