This new study provides a comprehensive survey of the recently established European financial system in comparison to previous European systems and the US Federal Reserve. This well-written contribution to financial economics should be of interest to academics as well as professionals concerned with financial systems around the world.
Maarten Vink explores change and resilience of citizenship under pressure from European integration. To assess the meaning of national and European citizenship the book analyzes parliamentary immigration debates from the 1990s in the Netherlands. The hesitant penetration of 'Europe' in these domestic debates on issues of asylum, resident status and nationality evidences the continuing relevance of domestic politics for the extension of membership and rights to non-citizens, and demonstrates the unsettled nature of European citizenship.
Environmental principles – from the polluter pays and precautionary principles to the principles of integration and sustainability – proliferate in domestic and international legal and policy discourse, reflecting key goals of environmental protection and sustainable development on which there is apparent political consensus. Environmental principles also have a high profile in environmental law, beyond their popularity as policy and political concepts, as ideas that might unify the subject and provide it with conceptual foundations or boost its delivery of environmental outcomes. However, environmental principles are elusive legal concepts. This book deepens the legal understanding of environmental principles in light of recent legal developments. It analyses the increasing legal effects of environmental principles in different jurisdictions and demonstrates how they are shaping and revealing innovative and evolving bodies of environmental law. This analysis is a step forward in understanding a key feature of modern environmental law and presents a robust methodology for dealing with novel legal concepts in the subject. It also makes a contribution to environmental policy debates and discussions internationally that rely heavily on environmental principles, including their supposed legal effects.
The classical model of international lawmaking posits governments as exclusively authoritative actors. However, commercially-oriented entities have long been protagonists within the prevailing international legal order, concluding contracts and resolving disputes with governments. Is the international legal personality of corporations undergoing further qualitative transformations ? Corporations influence the State practice constitutive of custom and create, refashion or challenge normative rules. The corporate willingness to fill legal lacunae where governments do not exercise their full regulatory responsibility is also observable through resort to alternative legal mechanisms. Corporations moreover contribute directly to treaty negotiations and occupy crucial roles during subsequent implementation. Indeed, an analysis of the access conditions and participatory modalities for non-State actors could support a right to participate under common international procedural law. Their substantive contributions are also evident when corporations participate in enforcing international law against governments through national courts, diplomatic protection (including the WTO) and arbitration (including NAFTA). However, the practice of intergovernmental organizations reveals several challenges including managing corporate interaction with developing country governments and other non-State actors. Acknowledging corporate contributions also has important implications for national regulatory autonomy, the ability of governments to mediate contested policy issues, the democratic legitimacy of the contemporary lawmaking process and an understanding of consent as the underlying basis for international law.
This book investigates the strengths and weaknesses – in terms of transparency and compliance with the democratic principle – of Bretton Woods Institutions, considering the most important innovations from the original framework achieved through the introduction of independent accountability and complaint mechanisms (the Inspection Panel and Independent Evaluation Office), but also due to relevant reforms in the internal governance of the International Monetary Fund and the new financial assistance tools. One of its main focuses is on evaluating the socio-economic impact of conditionality in the countries requiring financial assistance, acknowledging the need to strengthen social protection policies in the adjustment programs. In addition, emphasis is given to the effects of the “constitutionalization” of the Washington Consensus in the European Union, with the establishment of the so-called “Berlin-Brussels-Frankfurt Consensus.”
By exploring different approaches to the study of labour law, this book re-evaluates how it is conceived, analysed, and criticized in current legislation and policy. In particular, it assesses whether so-called 'old ways' of thinking about the subject, such as the idea of the labour constitution, developed by Hugo Sinzheimer in the early years of the Weimar Republic, and the principle of collective laissez-faire, elaborated by Otto Kahn-Freund in the 1950s, are in fact outdated. It asks whether, and how, these ideas could be abstracted from the political, economic, and social contexts within which they were developed so that they might still usefully be applied to the study of labour law. Dukes argues that the labour constitution can provide an 'enduring idea of labour law', and an alternative to modern arguments which favour reorienting labour law to align more closely with the functioning of labour markets. Unlike the 'law of the labour market', the labour constitution highlights the inherently political nature of labour laws and institutions, as well as their economic functions. It constructs a framework for analysing labour laws, labour markets, and institutions, to allow scholars to critique the current policy climate and, in light of the ongoing expansion of the global labour market, assess the impact of the narrowing and disappearance of spaces for democratic deliberation and democratic decision-making on workers' rights.
This book tackles the issue of civil society's democratic input to EU governance. It looks at how participatory democracy, laid down in the Lisbon Treaty and advocated by the Commission, is put into practice and whether the involvement of civil society lives up to the high expectation of upgrading the Union's democratic legitimacy.
The book provides the first comprehensive comparative analysis of the development of EU enlargement conditionality across four different enlargement waves - the first (2004) and the second (2007) phase of the Eastern enlargement, the EU enlargement to Croatia (2013), and the ongoing enlargement round involving Turkey and the Western Balkans.
The spate of mis-selling episodes that have plagued the financial services industries in recent years has caused widespread detriment to investors. Notwithstanding numerous regulatory interventions, curtailing the incidence of poor investment advice remains a challenge for regulators, particularly because these measures are taken in a 'fire-fighting' fashion without adequate consideration being given to the root causes of mis-selling. Against this backdrop, this book focuses on the sale of complex investment products to corporate retail investors by drawing upon the widespread mis-selling of interest rate hedging products (IRHP) in the UK and beyond. It brings to the fore the relatively understudied field concerning the different degrees of investor protection mechanisms applicable to individual retail investors – as opposed to corporate retail investors – by taking stock of past regulatory reforms and forthcoming regulatory initiatives as well as, more importantly, the conclusions reached by the judiciary in IRHP mis-selling claims. The conclusions are particularly interesting: corporate retail investors are in a vulnerable position when compared to individual retail investors. The former are exposed to a heightened risk of mis-selling, meaning that regulatory intervention should be targeted accordingly. The recommendations made as a result of these findings are further supported by insights emerging from behavioural law and economic theories. This book is aimed at researchers, lawyers and students with an interest in the financial regulation field who are keen to explore potential regulatory reforms to the investment services regime that address the root causes of mis-selling, and restore a level playing field amongst all retail investors.
Catholic Social Teaching and Labour Law explores the contribution that religious ethics makes to debates on justice in working life. Many faiths include beliefs about the significance of work to human development and the need for work to be performed under conditions that uphold dignity, equality, and solidarity . This book considers how the substantive provisions of labour law reflect prior ethical choices about how workers should be treated, and how beliefs from Catholicism influence these. This book provides a thorough account of the principles found in Catholic Social Teaching (CST), and how these impact human work and labour rights . It tests the contemporary relevance of its principles by applying them to current debates, using EU labour law as a case study. Specifically, it examines CST on the right to a just wage, the right to rest, worker participation, and equality and discrimination. The book finds that CST offers fresh insights on long-standing injustices in the labour market, such as low wages or poor working conditions, and also sheds light on emerging challenges such as ensuring rest in an era of digital connectivity. The book recognizes that tensions arise in areas where the Church's beliefs diverge from those that prevail in a secular understanding of human rights. This is particularly evident in debates relating to equality. It concludes that faith-based perspectives should be included in pluralistic dialogue on the future of labour law.