Legal Challenges in the Global Financial Crisis

Author: Wolf-Georg Ringe
Publisher: Bloomsbury Publishing
ISBN: 1782252576
Format: PDF, ePub, Mobi
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The global financial and economic crisis which started in 2008 has had devastating effects around the globe. It has caused a rethinking in different areas of law, and posed new challenges to regulators and private actors alike. One of the emerging issues is the apparent eclipse of boundaries between different legal disciplines: financial and corporate lawyers have to learn how public law instruments can complement their traditional governance tools; conversely, public lawyers have had to come to understand the specificities of the financial markets they intend to regulate.While commentary on financial regulation and the global financial crisis abounds, it tends to remain within disciplinary boundaries. This volume not only brings together scholarship from different areas of law (constitutional and administrative law, EU law, financial law and regulation), but also from a variety of backgrounds (academia, practice, policy-making) and a number of different jurisdictions.The volume illustrates how interdisciplinary scholarship belongs at the centre of any discussion of the economic crisis, and indeed regulation theory more generally. This is a timely exploration of cutting-edge issues of financial regulation.

General Principles of Law

Author: Stefan Vogenauer
Publisher: Bloomsbury Publishing
ISBN: 1509910697
Format: PDF, Docs
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Examining general principles of law provides one of the most instructive examples of the intersection between EU law and comparative law. This collection draws on the expertise of high-profile and distinguished scholars to provide a critical examination of this interaction. It shows how general principles of EU law need to be responsive to national laws. In addition, it is clear that the laws of the Member States have no choice but to be responsive to the general principles which are developed through EU law. Viewed through the perspective of proportionality, legal certainty, and fundamental rights, the dynamic relationship between the ingenuity of the Court of Justice, the legislative process and the process of Treaty revision is comprehensively illustrated.

The Future of Contract Law in Latin America

Author: Rodrigo Momberg
Publisher: Bloomsbury Publishing
ISBN: 1509914269
Format: PDF
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This book presents, analyses and evaluates the Principles of Latin American Contract Law (PLACL), a recent set of provisions aiming at the harmonisation of contract law at a regional level. As such, the PLACL are the most recent exponent of the many proposals for transnational sets of 'principles of contract law' that were drafted or published over the past 20 years, either at the global or the regional level. These include the UNIDROIT Principles of International Commercial Contracts, the Principles of European Contract Law, the (European) Draft Common Frame of Reference and the Principles of Asian Contract Law. The PLACL are the product of a working group comprising legal academics from Argentina, Brazil, Colombia, Chile, Paraguay, Uruguay and Venezuela. The 111 articles of the instrument deal with problems of general contract law, such as formation, interpretation and performance of contracts, as well as remedies for breach. The book aims to introduce the PLACL to an international audience by putting them in their historical and comparative context, including other transnational harmonisation measures and initiatives. The contributions are authored by drafters of the PLACL and contract law experts from Europe and Latin America.

The Code Napol on Rewritten

Author: John Cartwright
Publisher: Bloomsbury Publishing
ISBN: 1509911596
Format: PDF, ePub
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The provisions of the French Civil Code governing the law of obligations have remained largely unchanged since 1804 and have served as the model for civil codes across the world. In 2016, the French Government effected major reforms of the provisions on the law of contract, the general regime of obligations and proof of obligations. This work explores in detail the most interesting new provisions on French contract law in a series of essays by French lawyers and comparative lawyers working on French law and other civil law systems. It will make these fundamental reforms accessible to an English-speaking audience.

National Parliaments after the Lisbon Treaty and the Euro Crisis

Author: Jancic Davor
Publisher: Oxford University Press
ISBN: 0192509330
Format: PDF, ePub
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A critical assessment by eminent legal and political science experts in the field, this book examines the two key factors which have deeply affected the position of national parliaments in European integrations: the entry into force of the Lisbon Treaty and the sovereign debt crisis in the Eurozone. Structured in three parts, the book will address the question, 'Do national parliaments exhibit resilience or resignation in these changed politico-legal and socio-economic circumstances in the EU?' Part I investigates the impact of the aforementioned factors against the theoretical concepts of constitutionalism and democratic legitimacy. Part II evaluates the changing nature of parliamentary functions, and Part III appraises the evolving relationships between national parliaments and national governments, national courts, and EU institutions, in addition to surveying the emerging patterns of interparliamentary cooperation. This interdisciplinary collection yields novel insights into how the deepening of the Economic and Monetary Union and the pursuance of new initiatives for parliamentary action impact the shape and nature of EU democracy.

The Foundations and Future of Financial Regulation

Author: Mads Andenas
Publisher: Routledge
ISBN: 113504337X
Format: PDF, ePub, Docs
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Financial regulation has entered into a new era, as many foundational economic theories and policies supporting the existing infrastructure have been and are being questioned following the financial crisis. Goodhart et al’s seminal monograph "Financial Regulation: Why, How and Where Now?" (Routledge:1998) took stock of the extent of financial innovation and the maturity of the financial services industry at that time, and mapped out a new regulatory roadmap. This book offers a timely exploration of the "Why, How and Where Now" of financial regulation in the aftermath of the crisis in order to map out the future trajectory of financial regulation in an age where financial stability is being emphasised as a key regulatory objective. The book is split into four sections: the objectives and regulatory landscape of financial regulation; the regulatory regime for investor protection; the regulatory regime for financial institutional safety and soundness; and macro-prudential regulation. The discussion ranges from theoretical and policy perspectives to comprehensive and critical consideration of financial regulation in the specifics. The focus of the book is on the substantive regulation of the UK and the EU, as critical examination is made of the unravelling and the future of financial regulation with comparative insights offered where relevant especially from the US. Running throughout the book is consideration of the relationship between financial regulation, financial stability and the responsibility of various actors in governance. This book offers an important contribution to continuing reflections on the role of financial regulation, market discipline and corporate responsibility in the financial sector, and upon the roles of regulatory authorities, markets and firms in ensuring the financial health and security of all in the future.

The Legality of Bailouts and Buy Nationals

Author: Kamala Dawar
Publisher: Bloomsbury Publishing
ISBN: 1509908226
Format: PDF
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"This book offers a well-argued and insightful critical assessment of the shortcomings of international trade and competition rules in tackling interventionist State measures in the context of an economic crisis. Dawar offers an evidence-rich account of the challenges that State protectionism creates for international trade liberalisation and for the protection of competition in international markets. Her insights will be particularly interesting in the context of current events leading to another surge of State economic interventionism, both for academics and for policy-makers with an interest in international trade." Dr Albert Sanchez-Graells, University of Bristol Law School "This book bursts the bubble of the self-congratulatory attitude that existing institutions, which were set up to discipline governments from a race to the bottom on economic policy, worked well after the financial crisis. These institutions may have prevented tariff wars, a big achievement compared to the time of the Great Depression. But they went along with the subsidies and state aid that governments put in place after 2007. Such flexibility on economic policy is essential in turbulent times. But these institutions are undermined if flexibility comes with a race to the bottom that shifts money away from policies for the more marginalized sections of society. At a time when the left behinds are changing the political landscape of the world, Kamala's book debunks the myth of the success of existing institutions in containing the economic fallout of the global financial crisis. It gives a sobering warning of what might unfold when institutions deal with economic challenges by turning a blind eye to their own rules for checking unfair competition." Dr Swati Dhingra, Senior Lecturer at the Department of Economics, London School of Economomics 'An impressive contribution to our understanding of the financial crisis. Dawar's reading of bailouts and buy national through the lens of competition law and government procurement law and policy is inspirational.' Professor Mary E Footer, University of Nottingham School of Law 'The diplomatic fiction that during the crisis years regional and global trade rules ensured a level commercial playing field is skewered by Dawar's trenchant legal analysis.' Professor Simon Evenett, University of St Gallen This book examines the international regulation of crises bailouts and buy national policies. It undertakes this research with specific reference to the crisis years 2008–2012. The book includes a comparative analysis of the regulation of public procurement and subsidies aid at both multilateral and regional levels, identifying the strengths and weakness in the WTO legal framework and selected regional trade agreements (RTAs). Ultimately, the aim of this work is to provide options for improving the consistency of these laws and the regulation of these markets. This is of immediate relevance for good economic governance, as well as for managing future systemic financial crises in the interests of citizens: as tax payers and consumers.

Legal Foundations of EU Economic Governance

Author: Antonio Estella
Publisher: Cambridge University Press
ISBN: 1108599362
Format: PDF, Mobi
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Since the economic crisis unfolded in 2008, the European Union economic governance framework has been profoundly transformed from a legal perspective. The EU has adopted new tools, institutions and rules to tackle the changes and is arguably better prepared to combat any future crises. This book analyses the basic legal framework of EU economic governance and considers the economic underpinnings which underlie legal institutions in this area. It uses analytical dialectics as a method of analysis and the paradigm of 'law as credibility' as the main model through which the substantive parts of EU economic governance are accounted for. Important issues such as access, exit and expulsion from the euro, the independence of the European Central Bank, the Stability and Growth Pact, bail-outs to member states, and the EU's economic strategy are addressed in a clear, critical and innovative way.

The Max Planck Handbooks in European Public Law

Author: Sabino Cassese
Publisher: Oxford University Press
ISBN: 0198726406
Format: PDF
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The Max Planck Handbooks in European Public Law series describes and analyses the public law of the European legal space, an area that encompasses not only the law of the European Union but also the European Convention on Human Rights and, importantly, the domestic public laws of European states. Recognizing that the ongoing vertical and horizontal processes of European integration make legal comparison the task of our time for both scholars and practitioners, it aims to foster the development of a specifically European legal pluralism and to contribute to the legitimacy and efficiency of European public law. The first volume of the series begins this enterprise with an appraisal of the evolution of the state and its administration, with cross-cutting contributions and also specific country reports. While the former include, among others, treatises on historical antecedents of the concept of European public law, the development of the administrative state as such, the relationship between constitutional and administrative law, and legal conceptions of statehood, the latter focus on states and legal orders as diverse as, e.g., Spain and Hungary or Great Britain and Greece. With this, the book provides access to the systematic foundations, pivotal historic moments, and legal thought of states bound together not only by a common history but also by deep and entrenched normative ties; for the quality of the ius publicum europaeum can be no better than the common understanding European scholars and practitioners have of the law of other states. An understanding thus improved will enable them to operate with the shared skills, knowledge, and values that can bring to fruition the different processes of European integration.

Current Issues in European Financial and Insolvency Law

Author: Wolf-Georg Ringe
Publisher: Bloomsbury Publishing
ISBN: 1847315151
Format: PDF, ePub, Docs
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Recent case-law and legislation in European company and insolvency law have significantly furthered the integration of European business regulation. In particular, the case-law of the European Court of Justice and the introduction of the EU Insolvency Regulation have provided the stimulus for current reforms in various jurisdictions in the fields of insolvency and financial law. The UK, for instance, has adopted the Enterprise Act in 2002, designed, inter alia, to enhance enterprise and to strengthen the UK's approach to bankruptcy and corporate rescue. In a similar vein, a recent reform in France has modernised French insolvency law and even introduced a tool similar to the successful English 'company voluntary arrangement' (CVA). This book provides a collection of studies by some of the leading English and French experts today, analysing current perspectives of insolvency and financial law in Europe, both on the national as well as on the European level.