The architecture of the European Monetary Union (EMU) has often been understood to be built on a fundamentally ordoliberal framework. [1] The precise characteristics of what constitutes an ordoliberal framework are often not clarified, and they have been widely debated in contemporary scholarship. But a crucial characteristic of ordoliberalism, and one that has received comparatively little attention, concerns the importance of grounding economic policy in a “constitutional order”: ordoliberal political economy insists ...