Suchergebnisse

"The book introduces international developments through a hundred years history of regulation on the City of London. Regulation is shown to be a historically-entrenched masquerade: private regulation behind a public façade. The UK reconciled the coming of democracy with a continuation of private regulation in the City by holding them separate. International networking and EU integration channelled UK and US traditions and their consequences into Europe. The pre-crisis myth was that expertise could steer financial markets. Technocrats drove policies. Agenda making drifted upward, from the national (or more specifically city) level, to international networks. Convergence of regulatory thinking and rule making levelled the 'playing field' - to the advantage of large transnational market participants, yet exacerbating market herding, similarity of business strategies, connectedness, contagion and crises. Democratic steering has the potential to introduce greater diversity into international regulatory regimes. Yet powerful forces continue to push for greater convergence and less democracy. In reaction to the Eurozone crisis, policy elites constructed new 'mechanisms', minimising influences from European and national courts, parliaments and citizens. The US, having developed the default option of public bailout of private risk-taking, urged bank bailouts in the Eurozone, weakening sovereigns. Technocracy was wounded by crises but then rebounded. Democracy and Diversity in Financial Market Regulation will appeal to all those looking for a historically, politically and culturally based approach to financial market regulation. "--

Throughout Europe - from town halls and regional governments, through national Parliaments and ministries, to the high institutions of the European Union - there runs a vigorous debate on organised crime, municipal safety and private conduct. Drug problems and what to do about them often occupy center-stage at these debates. Throughout the 1990s the focus of legal attention has been primarily on the criminal law. New criminal offenses have been created, partly in response to influences `from above' (from international and European agreements) and partly in response to pressure `from below' (concerns of citizens at national and sub-national levels). But although criminal law certainly is important as far as the development of drug controls is concerned, it is by no means the whole story. There is a parallel history, a regulatory one, consisting of the increasing use of administrative measures, some of which are directly concerned with drugs while others are more general but equally applicable. These responses, together with civil law, variously function as adjuncts to criminal law or as alternatives to it, in relation to drug trafficking at European and national levels, drug-related public nuisance as it concerns citizens at municipal level, and drug users. After charting existing measures in the legal orders of Member states and of the Community, Regulating European Drug Problems looks at prospects for administrative drug controls after Amsterdam - in the context of the development of the Single Market, cooperation against crime and insecurity, subsidiarity, and human rights. At a practical level, the study offers provocative ideas to policy-makers and administrators working at the intersection of city-level, national, and European responses to drugs. For scholars and students, the book offers comparative legal research and European synthesis, and forges new links between fields of law, suppresion of organised crime, and economic and social regulation

AbstractThis article provides a new perspective on sovereign finance and money in England from pre-modern to early modern times. Re-reading the literature on sovereign fiscality through the lens of sovereign jurisdictions and religious authority, it describes two distinct forms of sovereign finance: the rise and fall of sovereign credit from the seventh to eleventh century, followed by sovereign debt developing from the eleventh century into 'modern' sovereign debt from the seventeenth century onwards. In the early Anglo Saxon period, sovereign credit was given and received in non-monetised forms. It was when sovereign jurisdictions became too wide for labour and bulky produce to travel that tax was monetised. However, the monetisation of credit undermined the very sovereign-subject relation on which sovereign credit was based. After the introduction of short-term sovereign debt by the Normans, for the next five hundred years, the two distinct fiscal mechanisms of sovereign credit and sovereign debt ran in parallel, although the latter was restrained by the church's prohibition of usury. In the seventeenth century, sovereign credit and sovereign debt became conjoined elements within one fiscal system, rather than separate mechanisms.