REDESIGNING THE RELEVANT PUBLIC CREDIT LEGISLATION UNDER THE SOVEREIGN DEBT CRISIS
REDESIGNING THE RELEVANT PUBLIC CREDIT LEGISLATION UNDER THE SOVEREIGN DEBT CRISIS
Author(s): Florea OpreaSubject(s): Law, Constitution, Jurisprudence, Constitutional Law, Civil Law, Fiscal Politics / Budgeting, EU-Legislation
Published by: Universul Juridic
Keywords: sovereign debt; public debt; Europe's fiscal treaty; euro-bonds; the Green Paper on Stability Bonds; budget and fiscal discipline;
Summary/Abstract: In this article, the author addresses the issue of the European Union Member States government debt in terms of Community law and national law and the relationship between the two legal orders. To this end, the budgetary convergence criteria laid down in the Maastricht Treaty, in 1992, the measures contained in the Green Paper on the feasibility of introducing Stability Bonds and the draft Treaty on Stability, Coordination and Convergence in the EU were hereby analyzed. The author concluded that the relevant European regulations must be transposed into the Member States national law by amending the national Constitutions.
Journal: Law Review
- Issue Year: 2012
- Issue No: 02
- Page Range: 78-82
- Page Count: 5
- Language: English
- Content File-PDF