EconPapers    
Economics at your fingertips  
 

Staatsverschuldung, Banken und Demokratie: Die Bedeutung von Sinnverbund und der Einheit von Handeln und Haften in der Schuldenkrise der EWU

Heike Walterscheid

Beiträge zur Jahrestagung 2014 (Goettingen) from Verein für Socialpolitik, Ausschuss für Wirtschaftssysteme und Institutionenökonomik

Abstract: Members of the European Currency Union and even a majority of all other Member States of the European Union are faced with high public and private depts. It is almost obvious that many Member States will have a problem with repaying depts and even are endanger to fall through interest payment. Thus, citizens within the territories of the European Currency Union are faced with an unpredictable risk of liability in case of bank failure and/or bankrupted states. Given that exit is almost no individual option yet, this implies the risk of a compulsory infringement into private assets of European citizens. Thus, losses caused by governments and banks, which both genuinely origin from political failure, will be socialized. Since European democracies are not aware of the implication of fractionized acting rights, which per se should build an internalizing unit of acting rights and therefore unify acting and liability, they are faced with serious complications into outmaneuver now- assuming that they really want to.

Keywords: Property Rights; Rules; Regulation; Political Competition; Lobbyism; Fiscal Depts; Money Policy; European Central Bank; Banking System; European Currency Union; European Union; Sovereignty; Liability; Structural Couplings; Sense Interconnection; Public Choice; Fractionation; Democracy; Social System Theory; Evolution; Externalities; Internalization (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-ger
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/107397/1/818555157.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:vswi14:107397

Access Statistics for this paper

More papers in Beiträge zur Jahrestagung 2014 (Goettingen) from Verein für Socialpolitik, Ausschuss für Wirtschaftssysteme und Institutionenökonomik Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().

 
Page updated 2025-03-20
Handle: RePEc:zbw:vswi14:107397