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Full-Text Articles in Law
Harmonizing European Union Bank Resolution: Central Clearing Of Otc Derivative Contracts Maintaining The Status Quo Of Safe Harbors, Christoph Henkel
Harmonizing European Union Bank Resolution: Central Clearing Of Otc Derivative Contracts Maintaining The Status Quo Of Safe Harbors, Christoph Henkel
Journal Articles
This Article argues that safe harbors for financial contracts should not be expanded in Europe, but instead should be repealed, as suggested by some commentators in the United States. At the very minimum, credit derivatives, swaps, and repurchasing agreements should be subject to a stay, and the resolution authorities in the Member States should have the power to assume beneficial contracts and to reject other unfavorable contracts. Also, the power of resolution authorities to transfer derivative positions in full or in part should not be sanctioned in favor of a full transfer. Rather, resolution authorities should have the power to …
The Allocation Of Powers In The European Union: A Closer Look At The Principle Of Subsidiary, Christoph Henkel
The Allocation Of Powers In The European Union: A Closer Look At The Principle Of Subsidiary, Christoph Henkel
Journal Articles
In the first section this article examines the different meanings of subsidiarity, its character as a doctrine of social philosophy and the origins of the concept of subsidiarity in the Community Treaties. The second section of this article describes the community approach to application, interpretation and review of compliance with subsidiarity. In this context, the Principle of Proportionality and the procedural requirement to Show Sufficient Grounds are considered as tools for judicial review and first developments in the case law of the European Court of Justice are discussed. Finally, against the background of political economic theory, the article will highlight …
Constitutionalism Of The European Union: Judicial Legislation And Political Decision-Making By The European Court Of Justice, Christoph Henkel
Constitutionalism Of The European Union: Judicial Legislation And Political Decision-Making By The European Court Of Justice, Christoph Henkel
Journal Articles
The focus of this article shall be the case law of the European Court of Justice. Despite recent proposals as well as other actions of the Member States to reform the Community Treaties, the expansion of judicial review by the European Court of Justice remains the driving force behind the development of constitutionalism of the European Union. In fact, the European Court of Justice and its case law play the most dominant and consistent role in the integration process. In doing so, the case law of the Court of Justice in part reflects the judicial activism comparable to early U.S. …