1,721,159 research outputs found

    In lotta per il potere: l'impossibile sfida dei partiti politici europei?

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    L’autore si interroga sull’effettiva capacità delle formazioni politiche europee di competere per il potere, in modo analogo ai partiti politici nazionali. Dopo avere ricordato il ruolo che svolge la norma sui partiti inserita nei Trattati, individua nel potere del Consiglio europeo uno dei fattori principali di impedimento per una vera competizione tra i partiti europei per il potere e delinea alcune vie di uscita, non immediate ma neanche impossibili, che condurrebbero ad una radicale trasformazione della fisionomia complessiva dell’Europa

    Rating dei debiti sovrani e diritto costituzionale

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    This article analyses the role of credit rating agencies and their relationship with Constitutions during the global financial crisis. Credit rating agencies play an important role in the debt market, as their credit ratings are used by investors, borrowers, issuers and governments in order to make informed investment and financing decisions. During the recent financial and economic crisis, rating agencies and, above all, the «three big sisters» (Moody's, Standard & Poor's and Fitch) that control around 95% of the global ratings market, are considered to have failed to signal early enough the worsening conditions of the market and to adjust their credit ratings following the deepening of the crisis (see Regulation (EU) n. 1060/2009). In particular, the paper examines the sovereign credit ratings, that is the credit ratings where the entity rated - the issuer of the debt or financial obligation - is a State, a regional or local authority of a State, or an international organization created by the State. Sovereign credit ratings show deficiencies and potential conflicts with various basic notions of constitutional law (such as State's sovereignty and fundamental rights protection). The publication of sovereign ratings deeply affects the credibility of States, but the rating agencies remain completely unaccountable, even if their ratings have often proven to be inaccurate. Constitutionalism, which is configured as a limit to the exercise of political power, cannot ignore these new forms of influence, aggravated by today's economic crisis - forms of power that cannot longer be qualified as simply «political», but that have also become «economic» and «financial». In this regard, the aim of this article is to advocate that there cannot be power without responsibility, and that this principle should also apply to some of the most powerful actors in the age of globalization, like credit rating agencies

    Il conflitto di attribuzioni tra le Regioni e il potere giudiziario

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    Pagg. VIII-264 Il volume è stato recensito da Elena Malfatti, sulla Rivista trimestrale di diritto pubblico 2003, pp. 1112-1115
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