Compliance of the right to issue regulationsof the Bank of Estonia with the constitution and EU law

Abstract

This article is concentrated on the question of whether the Bank of Estonia may issue regulations according to the constitution and on the interpretation of the constitution related to this question.

The assessment of the compliance of the right to issue regulations of the Bank of Estonia with the constitution requires theoretically and practically justified answers to the three following questions:

Which role does the Bank of Estonia play arising from the constitution and law?

Based on the principles and standards of the constitution, what kinds of remedies and legal acts need to be issued for its role (tasks)?

Can Riigikogu issue the right to also issue regulations to those bodies/persons that have no respective right according to the constitution (unless explicitly provided for by the constitution)?