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Moral Hazard Within The Greek Economic Crisis: An Analysis Of European Union Law Effectiveness In Dealing With The Greek Economic Crisis, Juan Castro, Juan Castro
Moral Hazard Within The Greek Economic Crisis: An Analysis Of European Union Law Effectiveness In Dealing With The Greek Economic Crisis, Juan Castro, Juan Castro
Juan Castro
In this paper I will present the historical background of the current Greek economic crisis. I will delve into the causes of the fiscal and current-account deficits since Greece’s euro entry in 2001. In addition to the economic and financial information provided, I will also present cultural aspects and differences between Greece and its surrounding neighbors, primarily Germany, and how moral hazard has exacerbated the conflict. Further I will discuss the legality of the countermeasures and solutions presented and how these encroach upon European Union law treaties. Lastly I will conclude that in order for Greece and Germany to stabilize …
Tripartism In Ireland, Jon Foster
Tripartism In Ireland, Jon Foster
Jon Foster
Over the past few years, the term “PIIGS” has become synonymous with economic concerns and fears of collapse. The acronym, which currently refers to the European countries of Portugal, Italy, Ireland, Greece, and Spain: was originally just ‘PIGS’ , used to group the similar economies of Southern Europe when considering them for acceptance into the European Monetary Union. Nevertheless, as a result of the global financial crisis, this term soon came to identify economically weak and overly indebted nations. However, unlike Italy, Greece, and Portugal, who had before the crisis demonstrated relatively slow growth, modest unemployment, and a propensity to …
Cleaning Up The Refuse From A Financial Crisis: The Case For A Resolution Management Corporation, James Thomson
Cleaning Up The Refuse From A Financial Crisis: The Case For A Resolution Management Corporation, James Thomson
James B Thomson
Systemic banking and financial crises invariably result in the transfer of a large volume of distressed financial assets into the hands of the government, which must later dispose of them. The fiscal and economic costs of the crisis and the speed of recovery depend on how effectively the government’s salvage operations can re-privatize these assets. To maximize the operations’ effectiveness, I propose that the government create a temporary resolution management corporation. Drawing on Kane’s (1990) asset-salvage principles, as well as the U.S. experience with special-purpose entities for managing and disposing of assets stripped from distressed financial firms’ balance sheets, I …
Property, Persona, And Publicity, Deven R. Desai
Property, Persona, And Publicity, Deven R. Desai
Deven R. Desai
This article focuses on two interconnected problems posed by the growth of online creation. First, unlike analog creations, important digital creations such as emails are mediated and controlled by second parties. Thus although these creations are core intellectual property, they are not treated as such and service providers terminate or deny access to people’s property all the time. In addition, when one dies, some service providers refuse to grant heirs access to this property. The uneven and unclear management of these creations means that historians and society in general will lose access to perhaps the greatest chronicling of human experience …