LEGAL PROTECTION IN PUBLIC MONETARY MANAGEMENT: SOME GENERAL THOUGHTS WITH AN EXAMPLE OF SERBIAN FRAMEWORK

Abstract

The subject of analysis in this paper is to determine the features of the legal protection procedure in the segment of public monetary management as a sui generis subsystem of public administration defined and implemented by the central bank as the supreme monetary institution and guardian of the monetary sovereignty of each state. In this sense, the first part of the paper points out the concept and features of the modern monetary order and the normative regulation of public monetary management, which aims to protect monetary stability as a public good. In contrast, the second part of the paper points out the specific way of implementing the active and passive process capability of the central bank in monetary disputes that represent a new type of administrative dispute in which the court decides on the legality of central bank measures or in which they require legal protection from the influence of other authorities. The subject of particular attention is the identification and functional analysis of the mechanism of legal protection in the domain of monetary management in Serbian monetary law to recognize the axiological matrix of existing solutions de lege lata and make concrete guidelines de lege ferenda, taking into account the fact that the procedure is in the function of protecting the rights of citizens to a safe and solid currency, the right to the monetary credibility of the domestic banking system and the preservation of living standard.