scholarly journals Irlanda : reforma constitucional versus convención constitucional : análisis del déjà vu de Irlanda desde la perspectiva de la reforma constituciónal española

2012 ◽  
pp. 411
Author(s):  
Esther Villadangos Seijas
Keyword(s):  
Sovereign Debt ◽  
Political System ◽  
Debt Crisis ◽  
Constitutional Amendment ◽  
Constitutional Change ◽  
Constitutional Convention ◽  
The Public ◽  
Doing Business ◽  
Regulatory Systems ◽  
Full Force

El presente artículo se centra en el estudio de la gestación de la crisis económica en Irlanda y en el análisis de las respuestas constitucionales a la misma. En primer lugar se analiza el papel de la reforma constitucional, estudiando el mecanismo diseñado en los arts. 46 y 47 de la Constitución. El carácter preceptivo del referéndum ha reforzado la implicación social en un total de 23 reformas aprobadas hasta la fecha. De especial trascendencia, como reacciones constitucionales ante el contexto de crisis, podemos destacar la reforma de 2011 relativa a la reducción del salario de los jueces y la afrontada en 2012, como consecuencia de la ratificación del Tratado de Estabilidad. Un segundo contenido de este trabajo expone una «relativa» novedad en el panorama constitucional, la de la Convención Constitucional. Concebida como un órgano deliberativo y participativo, estamos ante un mecanismo que trata de paliar una común demanda de las democracias actuales de fomentar la participación social como complemento a las limitaciones de los cauces parlamentarios tradicionales, subyugados a demasiadas lealtades, partidistas, endogámicas que impiden el ejercicio de sus funcione de canalización de la voluntad popular en el seguimiento de los asuntos públicos.This article focusses on Irish answers to the economic crisis. The full force of the sovereign debt crisis has been affected Ireland from 2008. The failures in the policy-making and regulatory systems have caused a critical eye on traditional ways of doing business in the political system and the public service. The paths that Ireland has followed are two. First, the constitutional amendment mechanism. It pays attention to constitutional precepts that ruler this constitutional reform, mainly articles 46 and 47. The referendum has developed a key element in this system. Ireland has developed 23 constitutional reforms nowadays. The second important element is a Constitutional Convention. This body will allow a group of randomly selected citizens to deliberate and make recommendations upon a number of areas of political reform. Many of the changes envisaged offers an space for reflection about the viability of a macro political and constitutional change strategy that the bailout require.

The Independence of the European Central Bank

2019 ◽  
Vol 52 (1) ◽  
pp. 35-68
Author(s):  
Ulrike Neyer
Keyword(s):  
Public Sector ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Jel Classification ◽  
Democratic Deficit ◽  
Sovereign Debt Crisis ◽  
Single Supervisory Mechanism ◽  
The Public ◽  
European Central ◽  
New Instruments

Abstract The ECB is formally independent of instructions from any government. During and after the financial crisis and the acute sovereign debt crisis in the euro area, the ECB has used new instruments and has taken on new tasks and responsibilities. This has led to discussions about the independence of the ECB. Against this background, this paper discusses two questions. First, do the new instruments and tasks imply that the independence of the ECB is under threat? Second, is the use of the instruments and the taking on of the new tasks and responsibilities by an independent institution justified in a democracy or is there a relevant democratic deficit? With respect to these two questions the result of this paper is that especially the Public Sector Purchase Programme (PSPP) and the Single Supervisory Mechanism (SSM) have to be judged critically. Zusammenfassung Die EZB ist formal unabhängig von Weisungen der Regierungen. Während und nach der Finanzkrise und der akuten Staatsschuldenkrise im Euroraum hat die EZB neue Instrumente eingesetzt und neue Aufgaben und Verantwortlichkeiten übernommen, die zu Diskussionen über die Unabhängigkeit der EZB geführt haben. Vor diesem Hintergrund diskutiert diese Arbeit zwei Fragen. Erstens, stellen die neuen Instrumente und Aufgaben der EZB eine Gefahr für ihre Unabhängigkeit dar? Zweitens, ist der Einsatz der neuen Instrumente und die Übernahme der neuen Aufgaben von einer unabhängigen Institu­tion in einer Demokratie zu rechtfertigen, oder besteht ein relevantes Demokratiedefizit? Bezüglich dieser beiden Fragen kommt die Arbeit zu dem Ergebnis, dass insbesondere das Programm zum Ankauf von Anleihen des öffentlichen Sektors (Public Sector Purchase Programme, PSPP) und die von der EZB übernommene Bankenaufsicht (Single Supervisory Mechanism, SSM) kritisch zu beurteilen sind. JEL Classification: E42; E52; E58

The crisis in Greece and the EU-IMF rescue package: Determinants and pitfalls

2012 ◽  
Vol 62 (1) ◽  
pp. 15-39 ◽  
Author(s):  
Anna Visvizi
Keyword(s):  
Sovereign Debt ◽  
Debt Crisis ◽  
Free Market ◽  
Interesting Case ◽  
Sovereign Debt Crisis ◽  
Missed Opportunities ◽  
The Public ◽  
The Government ◽  
Free Market Reforms ◽  
The Eu

The sovereign debt crisis in Greece represents a very interesting case in which the Greek government succeeded in transforming domestic fiscal deficit problem, overspending and fear of free market reforms into a European challenge consistent with justifiable concerns about the sustainability of the euro-project and its likely future. In this paper, the roots of the crisis and the way of addressing it are discussed. In particular the features, drawbacks, missed opportunities and pitfalls of the €110 billion EU/IMF rescue package granted to Greece are examined. It is argued that the government’s focus on taxation rather than on politically costly privatization and cutbacks in the public sector undermined economic activity in the country, decreased the government’s revenue, and spawned disincentives for investment, without generating growth and without improving competitiveness. In brief, rather than contributing to economic recovery, the opposite was achieved as a result of the measures implemented by the government.

scholarly journals Constitutional Amendment by Stealth

2015 ◽  
Vol 60 (4) ◽  
pp. 673-736 ◽  
Author(s):  
Richard Albert
Keyword(s):  
Rule Of Law ◽  
Constitutional Amendment ◽  
Democratic Legitimacy ◽  
Constitutional Change ◽  
Constitutional Convention ◽  
The Rule Of Law ◽  
Political Actors ◽  
The Government ◽  
Institutional Actors ◽  
Distinguishing Features

Constitutional amendment ordinarily channels public deliberation through formal, transparent, and predictable procedures designed to express the informed aggregated choices of political, popular, and institutional actors. Yet the Government of Canada’s proposed senator selection reforms concealed a democratically problematic strategy to innovate an informal, obscure, and irregular method of constitutional change: constitutional amendment by stealth. There are three distinguishing features of constitutional amendment by stealth—distinctions that make stealth amendment stand apart from other types of informal constitutional change: the circumvention of formal amendment rules, the intentional creation of a convention, and the twinned consequences of both promoting and weakening democracy. Constitutional amendment by stealth occurs where political actors consciously establish a new democratic practice whose repetition is intended to compel their successors into compliance. Over time, this practice matures into an unwritten constitutional convention, and consequently becomes informally entrenched in the constitution, though without the democratic legitimacy we commonly associate with an amendment. In this article, I theorize constitutional amendment by stealth from legal, theoretical, and comparative perspectives, and consider its consequences for the rule of law.

scholarly journals LA RELATION ENTRE L’ÉTAT ET LA DETTE PUBLIQUE: LES APPROCHES GÉNÉRALES, LES LOGIQUES POLITIQUES, LA CRISE ET LE CAS ITALIEN (’70-’90)

2019 ◽  
Author(s):  
Leonida Tedoldi
Keyword(s):  
Political Institutions ◽  
Sovereign Debt ◽  
Political System ◽  
Social Groups ◽  
The Political ◽  
The Public ◽  
State And Society ◽  
Crisis Of Representation ◽  
The Impact ◽  
The Relationship

This article rethinks the political and institutional causes of the rapid debt growth and its exploitation in the italian “blocked” political system (so-called “First Republic”). Italian State has always lived above its means, with a constant imbalance between income and expenditure and at the same time expanding its distance with respect to society (but the debt was paid by social groups that took advantage of it). This process triggered off a perennial crisis of representation and strengthened the instability of relations between political institutions and society. Therefore, sovereign debt downturns are always crises of institutional legitimization and require a redefinition of the ways in which sovereignty and power are exercised. Thus, the article investigates the impact of the “political use” of the public debt by governments on the relationship between the State and society.

scholarly journals Sovereign debt crisis of the Eurozone countries

2016 ◽  
Vol 7 (3) ◽  
pp. 357 ◽  
Author(s):  
Sławomir Miklaszewicz
Keyword(s):  
Euro Area ◽  
Sovereign Debt ◽  
Final Section ◽  
Debt Crisis ◽  
Sovereign Debt Crisis ◽  
Negative Consequences ◽  
The Public ◽  
Euro Zone ◽  
European Central ◽  
Coordination Process

The aim of the publication is to examine the fiscal position of the euro area countries and fiscal policy architecture in Europe after the outbreak of the financial and economic crisis started in 2008. The first part of the publication consists of the analyses of the budgetary situation of euro area countries and complications with the increasing costs of servicing the public debt in the European market affected by the financial liquidity crisis. In the second section the most important changes in the framework of budgetary policies coordination process in the euro zone are presented. The final section describes the role and activities of the European Central Bank in minimising the negative consequences of the debt crisis in the euro zone.

scholarly journals Some aspects concerning the economics of sovereign debt and possible influences of the COVID-19 pandemic

2021 ◽  
Vol 14 (1) ◽  
pp. 17-29
Author(s):  
Liviu-Daniel Deceanu ◽  
Gabriela Bodea
Keyword(s):  
Sovereign Debt ◽  
Debt Crisis ◽  
Sovereign Default ◽  
Sovereign Debt Crisis ◽  
Negative Effects ◽  
Economic Agents ◽  
The Public ◽  
Rigorous Approach ◽  
Debt Default ◽  
Do So

In the last 10 years, the sovereign debt crisis and its effects have made certain concepts, reserved until then only to specialists, to become elements of current language – public debt, sovereign debt, default, over-indebtedness, structural deficit, monetary policy, indebtedness ratios, sovereign debt effects, IMF intervention, willingness to pay… The indebtedness and over-indebtedness generated negative effects that affected not only the public finances, but also the economic agents (businesses) and the population, fueled by the lack of vision and responsibility of some governors. After the global economic crisis of 2008 and that of sovereign debt after 2010, a better control of indebtedness was tried, a more rigorous approach was implemented, but the Coronavirus pandemic that manifested itself in 2020 (and continues to do so) brought back to the forefront the problem of sovereign indebtedness and sovereign default.

scholarly journals Living Constitution in Indonesia: The Study of Constitutional Changes Without A Formal Amendment

Lentera Hukum ◽  
2020 ◽  
Vol 7 (1) ◽  
pp. 69
Author(s):  
Muhammad Addi Fauzani ◽  
Nur Aqmarina Deladetama ◽  
Muhammad Basrun ◽  
Muhammad Khoirul Anam
Keyword(s):  
House Of Representatives ◽  
The State ◽  
Constitutional Amendment ◽  
Constitutional Court ◽  
Constitutional Change ◽  
Political Will ◽  
Constitutional Convention ◽  
State Institutions ◽  
The Government ◽  
Constitutional Changes

The discussion regarding the living constitution in Indonesia has been increasingly important. The importance of this discussion deals with to the extent it has developed, particularly after Indonesia's constitutional amendment from 1999 to 2002. The current study of constitutional change in Indonesia, as a result of the constitutional amendment during Reformation, adds an emphasis on its change without a formal amendment. Thus, this paper will discuss the urgency of enforcing the amended 1945 Constitution in the lens of the living constitution and how to uphold it through the living constitution. This study uses doctrinal research and, in examining the case, it uses the statutory and conceptual approaches. The result of the study shows that the urgency of upholding the constitution through the living constitution relies on the concept of the living constitution that can dynamize the 1945 Constitution. In response to difficulties to formally amend the 1945 Constitution that depends on political will and rigid juridical condition, there should be a shift in the method of interpretation of the constitution by the Constitutional Court judges, from originalism to the living constitution. The enforcement of the 1945 Constitution through the living constitution can apply the constitutional convention and the interpretation by constitutional judges. This study suggests that the Government and the House of Representatives and other relevant state institutions can use the living constitution, by taking into account the constitutional convention is a source in the organization of the state to patch up the weaknesses of the constitution. Keywords: Living Constitution, Constitutional Changes, Formal Amendment.

scholarly journals Are Citizens Austerians? Evidence from Survey Experiments on Budgetary Priorities

2020 ◽  
Author(s):  
Björn Bremer ◽  
Reto Bürgisser
Keyword(s):  
Sovereign Debt ◽  
Debt Crisis ◽  
Fiscal Policies ◽  
Fiscal Consolidation ◽  
The Public ◽  
Trade Offs ◽  
European Sovereign Debt Crisis ◽  
Hard Times ◽  
The Cost ◽  
Budgetary Priorities

In the wake of the European sovereign debt crisis, governments across the continent adopted austerity. Existing research claims that fiscally conservative citizens support such fiscal policies. However, this literature largely ignores that fiscal consolidation carries substantial trade-offs. In hard times, governments have to cut spending or raise taxes to reduce government debt. We account for these budgetary trade-offs by using a split-sample and conjoint survey experiment conducted in four European countries. The results show that fiscal consolidation is not a priority for citizens: When forced to make a choice, support for reducing debt at the cost of lower spending or higher taxes is much smaller than in an unconstrained setting. Revenue-based consolidations are especially unpopular, but expenditure-based consolidations are also contested. Moreover, the public has clear budgetary priorities: People do not favor lower debt and taxes, but they support more progressive taxes to pay for higher government spending.

Prospects for the UK Economy

2011 ◽  
Vol 218 ◽  
pp. F54-F76
Author(s):  
Simon Kirby ◽  
Rachel Whitworth
Keyword(s):  
Euro Area ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Domestic Activity ◽  
Public And Private ◽  
Balance Sheets ◽  
The Public ◽  
Economic News ◽  
The First World War ◽  
The Uk

The economic news flow since the publication of our July Review has been predominately negative, focusing on the deteriorating Euro Area sovereign debt crisis. This has added to further disappointing data on UK domestic activity. Quarterly economic growth has averaged just 0.3 per cent in the first three quarters of 2011 (see figure 1). Anaemic GDP growth is due to both the public and private sectors simultaneously consolidating their balance sheets. Looking ahead, the crisis in the Euro Area will play a central role. We expect the UK economy to expand by 0.9 per cent this year and 0.8 per cent in 2012, before increasing by 2.6 per cent in 2013. This will be the most protracted recovery since the end of the First World War (see figure 2).

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