Insolvenz- und Restrukturierungsrecht für EZB und Bundesbank?

The paper proposes a new procedure for the Eurosystem as a crisis law to achieve the price stability target more effectively and safely. To this end, it is based on high inflation rates. As a last resort, it envisages the Bank for International Settlements (BIS) as administrator in order to avert the danger of hyperinflation. The transfer of insolvency and restructuring procedures is not an option for overcoming or preventing the inflation problem because the euro central banks can function in principle despite negative equity (e.g. as a result of a slump in government bond prices) and can provide themselves with their own liquidity through money creation.