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Sovereign debt is necessary for states to function, yet its impact on human rights is underexplored. Bantekas and Lumina gather experts to conclude that imposing structural adjustment programmes exacerbates debt, injures the entrenched rights of peoples and their state's economic sovereignty, and worsens the borrower's economic situation.
Argues that the 'neoliberalisation' of international and EU law has been advanced in the wake of the Eurozone debt crisis.
This book fills the normative gap arising from the absence of a multilateral mechanism for sovereign debt restructuring.
The book sheds light on the perhaps most important legal conundrum in the context of sovereign debt restructuring: the holdout creditor problem. Absent an international bankruptcy regime for sovereigns, holdout creditors may delay or even thwart the efficient resolution of sovereign debt crises by leveraging contractual provisions and, in an increasing number of cases, by seeking to enforce a debt claim against the sovereign in courts or international tribunals. Following an introduction to sovereign debt and its restructuring, the book provides the first comprehensive analysis of the holdout creditor problem in the context of the two largest sovereign debt restructuring operations in histor...
This book provides a thorough legal analysis of sovereign indebtedness, examining four typologies of sovereign debt – bilateral debt, multilateral debt, syndicated debt and bonded debt – in relation to three crucial contexts: genesis, restructuring and litigation. Its treatise-style approach makes it possible to capture in a systematic manner a phenomenon characterized by high complexity and unclear boundaries. Though the analysis is mainly conducted on the basis of international law, the breadth of this topical subject has made it necessary to include other sources, such as private international law, domestic law and financial practice; moreover, references are made to international financial relations and international financial history so as to provide a more complete understanding. Although it follows the structure of a continental tractatus, the work strikes a balance between consideration of doctrinal and jurisprudential sources, making it a valuable reference work for scholars and practitioners alike.
Papers originally presented in a conference held at the Catholic University, Milan, on 10-11 May 2002.
The book offers several perspectives to the analysis of the expansion and diversification of international legal responses to terrorism. It focuses, in particular, on the move during the past decade towards more indirect forms of responsibility.
The major problem associated with the regulation of transnational mergers, which affect several national markets, is the allocation of jurisdiction. Each country concerned may wish to exert jurisdiction and apply its national competition law to regulate the anti-competitive effects a merger may have in its territory. However, this approach may lead to risks of inconsistent decisions regarding the legality of mergers. Indeed, the national competition laws applied by the regulating authorities may diverge in several aspects, which raise the likelihood of inconsistency. Therefore it is desirable to opt for regulatory approaches which are more sensitive to the transnational nature of mergers and which allow cooperation between competition authorities. A possible solution may be bilateral cooperation agreements through which two countries coordinate the enforcement activities of their national competition authorities. However, the benefits of these agreements are enjoyed only by the signatory parties. The sole reliance upon bilateral agreements does not appear to be the optimal regulatory approach towards transnational mergers.
This insightful book analyses the role that EU general principles have taken in the protection of fundamental rights within the EU since the Lisbon Treaty. In particular, the author focuses on the relationship between written law (the Charter of Fundamental Rights) and unwritten law (the general principles) within the institutional framework of the EU. The book demonstrates that due to their complementary and autonomous function toward the protection of fundamental rights, the general principles still play a key role within the Union despite the binding force of the Charter.
The concept of global governance, which first emerged in the social s- ences, has triggered different responses in the discipline of law. This volume contains our proposal. It approaches global governance from a public law perspective which is centered around the concept of inter- tional public authority and relies on international institutional law for the legal conceptualization of global governance phenomena. This proposal results from a larger project which started in 2007. The project is a collaborative effort of the directors of the Max Planck Ins- tute for Comparative Public Law and International Law, research f- lows and friends of the Institute, as well as eminent members of the Law...