Suchergebnisse

The ability of the proposed mechanisms to achieve post-conflict justice in present-day Burundi is investigated. An overview of the persistence of conflict in Burundi from the late 1960s to the early 2000s is presented, indicating how violence in neighboring countries frequently spilled over to Burundi & how the prevalence of military coups was gradually replaced by democratic transition. Attention is subsequently directed toward analyzing the Arusha Accords, particularly the consensual agreement that permitted involvement from the United Nations Security Council & called for the establishment of a National Truth and Reconciliation Committee as a means of realizing post-conflict justice. The capacity of previous similar mechanisms in producing post-conflict justice, eg, the Sierra Leonean Truth and Reconciliation Committee, is then addressed. Three issues that require emphasis to ensure the achievement of post-conflict justice in Burundi are highlighted: sharing information between institutions while protecting accused peoples rights; pressuring guilty individuals to tell the truth about their criminal activities; & ascertaining the temporal jurisdiction of the truth & reconciliation mechanisms. J. W. Parker

The recovery plan of the Commission entitled "Next Generation EU" proposes a compromise that goes beyond the ominous lowest common denominator. With a package of EUR 750bn in total, comprising EUR 250bn in loans and the rest in grants, the Commission paves the way for both forward-looking public finance and constitutional innovation. The proposals are masterpieces of high-tech legal engineering. Again, European constitutional law evolves through crisis. Yet, again, it stands to reason how far the proposed instruments will shift the European Union towards enhancing solidarity and democracy.

While the debate about the needs and merits of cryptocurrency regulation is ongoing, the unprecedented price hikes of cryptocurrencies towards the end of 2017 triggered a somewhat unexpected sort of regulation in the form of public statements by governments and financial supervisors. It kicked in rather quickly and turned out to be much more effective than imagined. These interventions can be identified as one of the main factors that drove asset prices down, thereby preventing destabilizing bubbles. The experience of the supervisory response to the cryptocurrency bubble of the past months keeps important insights for any prospective regulation of cryptocurrencies. First, public statements are a highly effective regulatory tool in the short term as they manage market expectations, a fact which is well-known as forward guidance in monetary policy. So far, the legal framework in the EU takes insufficient account of the regulatory role of public statements. Second, regulation needs to keep up with the incredible speed of fintech innovations. Some regulators addressed the challenge by adopting a "sandbox" approach. However, the "sandbox" approach clearly calls for international cooperation. To achieve a balance between safety and innovation, international cooperation should emulate the experimental character of sandboxes. One could conceive of a "sandbox for regulators", an arrangement which would facilitate the exchange of information on regulatory initiatives among authorities but also the coordination of communication and forward guidance.

By thinking loudly about putting the regulation of cryptocurrencies on the agenda of the G20, governments seem to have managed to keep the Bitcoin bubble from inflating into a systemic risk, so far. In a tongue-in-cheek sense, this behavior of supervisory and regulatory authorities can be described as the distributed ledger technology of financial supervision. It is distributed because it does not have a clear center. The G20 seems to be the common reference point for many actors, but it does not speak itself. It is like a shared code.

Bitcoin stands like no other cryptocurrency for the profound transformation of financial markets in the digital economy. While the last few months saw the free trade in goods struggle against trends towards protectionism, cryptocurrencies seemed to tear down one border after the other – physical, geographic, and legal ones alike. A libertarian's wet dream. Blockchain presents itself as a fortress against state intervention, for whatever purpose. Finally, a technological, market-based solution would put an end to the problem of monetary policy, payment transactions, and make whole chunks of government regulation superfluous. .