THE ENFORCEMENT OF ECB SANCTIONS IN LIGHT OF THE PROPORTIONALITY PRINCIPLE: IS THERE A NEED FOR A GUIDE TO DEFINE A SOLID LEGAL FRAMEWORK?

This article first provides an overview of the various dimensions of the principle of proportionality and its evolution in the multi-layered European legal framework in light of the increasing expansion of punitive powers of executive bodies. Second, and more specifically, it outlines the limits of the principle of proportionality in the sanctioning procedure of the Single Supervisory Mechanism (SSM) within the ECB, comparing it with other relevant EU bodies and national supervisors. Finally, a new and, hopefully, productive step forwards is proposed that could be implemented to ensure a more coherent application of the principle of proportionality within the SSM, aimed at achieving a fairer and more efficient sanctioning procedure.