Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 4 of 4
Full-Text Articles in Law
Law, Fiscal Federalism, And Austerity, R. Daniel Kelemen
Law, Fiscal Federalism, And Austerity, R. Daniel Kelemen
Indiana Journal of Global Legal Studies
In response to the Eurozone crisis, European Union leaders have undertaken a number of dramatic reforms, including the imposition of a new regime for fiscal governance of Eurozone Member States. The 2012 Fiscal Compact Treaty, one of the lynchpins of this package of reforms, requires states to incorporate judicially enforceable balanced-budget rules into national law. This article explores this effort to judicialize austerity in the European Union, focusing on two interrelated sets of questions. First, why did EU leaders turn to the courts and ask them to become the stewards of fiscal discipline, and second, should we expect the effort …
Potential Exit From The Eurozone: The Case Of Spain, Antonio Estella
Potential Exit From The Eurozone: The Case Of Spain, Antonio Estella
Indiana Journal of Global Legal Studies
According to a recent opinion poll that covered seven members of the Eurozone, Spain would be the Member State of this group that is most in favor of leaving the euro. In this public opinion context, and above all since the summer of 2012, debate has been growing in this country about the prospects of its exiting the European Monetary Union. In this article I argue that there are good reasons for taking this debate seriously. Using Spain as a case study, I analyze what the determinants of this decision could be. In particular, I analyze the economic determinants that …
Austerity, The European Council, And The Institutional Future Of The European Union: A Proposal To Strengthen The Presidency Of The European Council, Federico Fabbrini
Austerity, The European Council, And The Institutional Future Of The European Union: A Proposal To Strengthen The Presidency Of The European Council, Federico Fabbrini
Indiana Journal of Global Legal Studies
This article contextualizes the resilience of austerity in Europe, explaining it in light of the transformations in the EU system of governance. As the article maintains, since the eruption of the Eurocrisis, the European Council-the body congressing the heads of state and government of the EU member states together with its President and the President of the European Commission-has risen to the center of EU governance. In an intergovernmental institution such as the European Council, however, larger and wealthier states have been able to impose their preferences on other states-a development that is at odds with the anti-hegemonic nature of …
The Greek Debt Crisis: The Need For "Heroic" Economic Policy Reforms In The European Economic And Monetary Union, Peter Robbins
The Greek Debt Crisis: The Need For "Heroic" Economic Policy Reforms In The European Economic And Monetary Union, Peter Robbins
Indiana Journal of Global Legal Studies
Greece is in the midst of a devastating economic and financial crisis that the European Union has been trying ardently to resolve since the default of Lehman Brothers in 2008. A significant number of other European Union (EU) Member States are also in crisis due to various state-level economic and monetary causes. Meanwhile, the European Union has consistently used the existing treaty articles and legislation within its competence to impose traditional and homogenized austerity measures on highly indebted Member States, most notably Greece. In sum, the European Union has zealously advocated for fiscal conservatism driven by the German "diber-fear" of …