The sovereign debt crisis in the Eurozone began with the global economic recession that started in 2008 in the USA, caused by a massive melt down in financial markets. After the crash of 2008, the sovereign debt increased for two main reasons. The first reason was because governments assumed private debt (primarily bank debt). The second reason derived from the automatic stabilizers set in motion by the recession-induced decline in government revenues. In this scenario, there was a drastic increase in the interest rate of government bonds, especially for PIIGS countries (Portugal, Ireland, Italy, Greece, Spain). However it seems very difficult to explain this enormous increase exclusively through the theory of speculative attacks triggered by the worsening of fundamentals, especially if inconsistent macroeconomic policies were not in place. The main goal of this work is to indagate the determinants of the spread increase taking into account the fundamentals deterioration and the self-fulfilling speculative attack on euro currency.
In the last decades, much work have been done to deconstruct the mechanisms of government in Early Medieval Europe. In that task, the interpretation of the settlement of disputes and royal/imperial diplomas as the basis of the central government strategies in local spheres has been underlined by recent historiography. Following this methodology, the aim of this article is, thus, to analyze the mechanisms of governance in the March of Tuscany in a time characterized by political fluidity, focusing in the role played by the kings and lay and ecclesiastical aristocracies in the construction of complex political systems.
Almost a decade has passed since the outbreak of the economic crisis; from its original nucleus, its effects have quickly affected the social and geopolitical fields. Such wide impact and its complex implications make the crisis an object susceptible of multiple readings. The particular aim of the studies collected in this volume is to explore the impact of the crisis on law, culture and society, in order to test the depth of the problem, by comparing the analytical perspectives obtainable from legal and human sciences. The book focuses on three main issues: the crisis as a social object, in order to consider the crisis in terms of its attributing force; the problem of democracy, which is becoming an increasingly central question now, as the changes imposed by the crisis have begun to settle down; the interdisciplinary challenge that, in time of crisis, questions paradigms of knowledge, competences and methods, in order to enable an heuristic dialogue between human, social and legal sciences. ; Introduction / Massimo Meccarelli (pp. 9-12). -- The Crisis as a Social Object : -- Narrating the Crisis: Fictions of Finance in Contemporary British Novels / Silvana Colella (pp. 15-37). -- Social Rights in Crisis: Any Role for the Court of Justice of the EU? / Francesco Costamagna (pp. 39-64). -- Ripensare la nazione ottocentesca. Vecchi e nuovi paradigmi tra storia, diritto e globalità / Eliana Augusti (pp. 65-97). -- Ma cos'è questa crisi? / Carla Canullo (pp. 99-113). -- The Problem of Democracy : -- Defending Collective Sociality: The Oresteia at Shakespeare's Globe / Louise Owen (pp. 117-131). -- Representation of the Crisis vs Representative Democracy in Italy / Roberta Calvano (pp. 133-148). -- The Unbearable Lightness of the Freedom of Movement: An Analysis of the Relationship Between Brexit and Inmigration / Lucia Barbone, Erik Longo (pp.149-174). -- Représentation, perception de la crise et modification de la «sécurité sociale». Entre prédiction et anticipation, que signifie agir das un monde incertain? / Jean-Philipe Pierron (pp. 175-188). -- The Interdisciplinary Challenge : -- Intercultural Categories of Thought in Times of Crisis: The Challenge of Inter/Multi-discipinary Research / Flavia Stara (pp. 191-198). -- An Interdisciplinary Approach to International Law? Some Cursory Remarks / Paolo Palchetti (pp. 199-208). -- Rights in Times of Crisis: An Interdisciplinary Issue for Legal Studies / Massimo Meccarelli (pp. 209-219). -- Contributors (pp. 221-224).
During the migration crisis European borders were overwhelmed by arriving people. People that made their way to the European Union after dangerous journeys. Many of them are displaced persons fleeing war and persecution in their place of origin. Because there are only few possibilities for them to arrive in Europe in a regular way, they often need to rely on smugglers in order to reach safety. In line with the obligations of international law, Europe should safeguard the rights of the people in need of protection. Strengthening legal ways to reach safe territory would decrease the dependency on smuggling networks and contribute to international responsibility sharing in dealing with humanitarian situations. In this thesis the different instruments for creating legal channels are explained and research is done on the implementation of these tools by the EU and its Member States. An analysis is made from a human rights point of view on the way in which the EU is safeguarding the rights and needs of persons in need of international protection against the background of the migration crisis. Durante la recente crisi migratoria i confini europei sono stati travolti dai flussi di migranti, queste persone hanno raggiunto l'Unione Europea dopo viaggi pericolosi. Molti di loro sono sfollati che hanno dovuto lasciare il loro paese di origine a causa di guerra e persecuzioni. Le possibilità di arrivare in Europa in modo regolare sono poche e perciò in molti casi ci si deve affidare a trafficanti per raggiungere i confini europei. In accordo con gli obblighi imposti dal diritto internazionale, l'Europa deve salvaguardare i diritti delle persone che necessitano protezione. Rafforzare i percorsi legali per raggiungere territori sicuri, diminuirebbe le dipendenze dai circuiti illegali e contribuirebbe alla condivisione delle responsabilità a livello internazionale in caso di emergenze umanitarie. In questa tesi verranno spiegati vari metodi per la creazione di canali di accesso legali, inoltre verrà esposto l'uso di questi strumenti e la loro implementazione da parte dell'UE e dei suoi stati membri. Verrà fatta un'analisi dal punto di vista dei diritti umani sul modo in cui l'Unione Europea sta proteggendo i diritti e i bisogni delle persone che necessitano protezione internazionale nel contesto della crisi migratoria.
We investigate how cooperative firms reacted to the current crisis. This allows us to compare the behavior of cooperative and conventional firms facing exogenous shifts in demand. After a short survey of a stream of theoretical literature, we analyze a large group of Italian production cooperatives in the periods 2003-2010 and 1994-2011 and we contrast co-ops behavior with the overall trend in the industries in which they operate. Our sample's evidence suggests that the cooperative's behavior has a stabilizing effect on employment with respect to shocks in output demand. Unlike profit-maximizers, cooperative firms seem to be adjusting pay more than employment when facing shocks. Production co-ops look better equipped than their profit-maximizing counterparts in tackling the long recession also because they have been very cautious in their profit policies over time. Unlike conventional firms, they have significantly increased their own equity during "good" years instead of distributing large dividends to their members.
Dottorato di ricerca in Diritto dei mercati europei e globali. Crisi, diritti, regolazione ; Il presente lavoro affronta il tema delle trasformazioni del diritto penale economico indotte dalla recente crisi economico-finanziaria, con l'intento di evidenziare come e in quale misura il contesto di crisi abbia influito sulle decisioni (legislative e giudiziarie, politiche e tecniche) di gestione, tramite pena, dei conflitti sociali. Passando per lo studio dei rapporti che storicamente intercorrono tra crisi e diritto, l'analisi si è sviluppata attraverso una sistematizzazione per tipologia dei fenomeni criminali associati alla crisi economico-finanziaria. Lo studio della risposta punitiva ai vari comportamenti criminali legati alla crisi, ossia i comportamenti crisis-related (le frodi finanziarie che s'inseriscono nella spiegazione multifattoriale della crisi), i comportamenti compulsati dalla crisi (in particolare, i reati d'obbligo in materia fiscale) e, infine, quelli incentivati (criminalità organizzata e criminalità del profitto in senso ampio) dalla crisi stessa, ha fatto emergere una caratterizzazione altamente congiunturale dell'intervento penalistico, segnato da un generale riorientamento dal fatto al fenomeno. Il lavoro ha altresì preso in esame, per operare un confronto e saggiarli nel contesto d'interesse, alcuni paradigmi penalistici di "crisi" già reperibili in dottrina (segnatamente, il diritto penale di transizione, d'eccezione e di lotta), anch'essi caratterizzati da congiunturalità e orientamento al fenomeno, finendo tuttavia col constatarne l'incapacità di spiegare compiutamente le torsioni subite dal diritto penale economico in relazione al fenomeno della crisi attuale. ; The aim of the present work is to analyse the impact of the latest global financial crisis of 2007-09 on the economic criminal law. In particular, I investigate whether and how the context of crisis has affected the various (legislative and judicial, political and technical) justifications behind the use of penalty as a tool to manage social conflicts. To this end, the analysis suggests a classification of the unlawful phenomena associated with the economic-financial crisis by making use of a criminological systematization. The use of penalty is thus observed as responding to criminal behaviours which are either crisis-related (financial frauds included in the multifactorial explanation of the crisis), crisis-compelled (in particular tax crimes) or, finally, crisis-incentivized (organized crime and "profit" crime in the broad sense). From this standpoint, criminal intervention shows a highly conjunctural characterization and appears to be much more phenomenon-oriented than fact-oriented. In the final part of the thesis, some classical criminal law paradigms of crisis were tested within the framework of the economic crisis (namely, the "transitional justice", the "criminal law of exception" and the "criminal law of fight" paradigms), also characterized by conjuncturality and orientation to the phenomenon. However, none of them seems able to fully explain the torsions undergone by economic criminal law in relation to the experience of the crisis.
In 2020, the tenth democratic and free elections after the fall of the communist regime in Slovakia resulted in a broad coalition government, which obtained its mandate mainly to fight corruption. However, the global pandemic of COVID-19 has fundamentally changed priorities. Indeed, growing dissatisfaction with the governance of the state in early 2021 has led to the organization of a referendum on early parliamentary elections. The article draws attention to the constitutional problems associated with holding such a referendum in the conditions of the Slovak Republic, not only in general, but also, and especially, in times of crisis. ; In 2020, the tenth democratic and free elections after the fall of the communist regime in Slovakia resulted in a broad coalition government, which obtained its mandate mainly to fight corruption. However, the global pandemic of COVID-19 has fundamentally changed priorities. Indeed, growing dissatisfaction with the governance of the state in early 2021 has led to the organization of a referendum on early parliamentary elections. The article draws attention to the constitutional problems associated with holding such a referendum in the conditions of the Slovak Republic, not only in general, but also, and especially, in times of crisis.