Insolvency of banks and governments: An integrated constitutional and economics analysis of those mechanisms that smother the triggers to insolvency of banks and governments
PhD student: Mr J. Akkermans
Promotors: Prof M.E. Storme, P. van Cayseele
Duration: 1/9/2017 - 31/8/2023
The free market and the democratic process allow us to liquidate failed projects through insolvency law and an annual vote on the budget respectively. Both institutions facilitate an evolutionary process. There seem to be several mechanisms that de facto protect governments and banks from that evolutionary process. Examples of those mechanisms are the OMT program and quantitative easing of the ECB, the ESM and the depositors insurance system. In Belgian constitutional law there is no standard to judge those mechanisms. This research uses comparative law and economic analysis of law to explain the trade-offs in selecting this constitutional standard.
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