New jurisdiction of the European Court of Justice in resolving monetary and fiscal disputes

The global financial crisis has caused the need for a stronger positioning of the European Court of Justice in the new model of economic governance in the European Union. The Jurisdiction of the European Court of Justice contributes in creating the optimal legal control mechanism of budget spending in the European monetary law and ensure maintenance of euro-zone fiscal framework. The role of the European Court of Justice in the EMU in earlier periods was secondary, but in times of crisis, it points to the growing need of Jurisdiction's extending in the field of monetary relations between member states and respect of convergence rules. Court's Jurisdiction in resolving of monetary and fiscal disputes is increasingly implemented in determining the legal nature of international agreements, whose ratio is economic stability, where the Judgments regarding complementarities of these legal documents with primary law provisions have the crucial impact on the future direction of national fiscal policies coordination. Although, the Court's Jurisdiction in this area is still underdeveloped and Judgments are often conditioned by pragmatism reasons, by development of credible macroeconomic dialogue between Court of Justice, European Central Bank and European Court of Auditors may establish conditions for fullfiling legal gaps in the performance of monetary and fiscal Jurisdiction of the Court.