- The Union shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of any Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project.
- A Member State shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of another Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project.
“The reality is that unconventional monetary policy is difficult, perceived as risky, and never pursued with the vigor of conventional monetary policy.” --Paul Krugman, NYT, March 17, 2010 "Reducing policy interest rates to the zero bound fails to stimulate credit supply and demand in a ‘balance sheet recession’ in which the private sector is deleveraging." --Adair Turner, 20 May, 2013
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Tuesday, March 23, 2010
The no-bailout clause of the Lisbon Treaty
Article 125 of the Lisbon Treaty (2007):
Clause 125 of the Treafy of Lisbon has quite clearly been deliberately breached. What are or could be the consequencies of this?
ReplyDeleteNo competent legal authority has declared that the treaty has been violated.
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