Seite - 87 - in Austrian Law Journal, Band 1/2015
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ALJ 1/2015 Authoritarian Liberalism 87
Some Southern Member States get the raw end of the deal. They do not benefit from Europe’s
arrogation of delegated authority. Under such unequal conditions it makes sense for them to act
in a manner as though the public power that rules them were illegal and illegitimate.
There is no other alternative left for the Southern Member States than to alter an equilibrium in
which they have no bargaining power. They can only affect it still by threatening to leave the Euro
Zone. While this would make an end to all rescue credits from ESM and all OMT support from the
ECB it would also reintroduce the specter of the collapse of the Euro. While such a scenario is
quite regrettable, it is to be feared that defection is the only leverage left to these states to moti-
vate Northern States to rethink and to renegotiate the project of Economic and Monetary Union.
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Buch Austrian Law Journal, Band 1/2015"
Austrian Law Journal
Band 1/2015
- Titel
- Austrian Law Journal
- Band
- 1/2015
- Autor
- Karl-Franzens-Universität Graz
- Herausgeber
- Brigitta Lurger
- Elisabeth Staudegger
- Stefan Storr
- Ort
- Graz
- Datum
- 2015
- Sprache
- deutsch
- Lizenz
- CC BY 4.0
- Abmessungen
- 19.1 x 27.5 cm
- Seiten
- 188
- Schlagwörter
- Recht, Gesetz, Rechtswissenschaft, Jurisprudenz
- Kategorien
- Zeitschriften Austrian Law Journal