The "no bail-out" principle in the euro area's rescue mechanisms

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F26138077%3A_____%2F14%3A%230000546" target="_blank" >RIV/26138077:_____/14:#0000546 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
The "no bail-out" principle in the euro area's rescue mechanisms
Original language description
To overcome the debt crisis, which takes place in some euro area countries, especially the European Stability Mechanism was created. Many authors argue that it is a breach of the no bail-out principle (prohibition of the financial aid). The paper deals first with the question what is the content of the no bail-out principle? Another question is whether the ESM assistance is a violation of this principle? The no bail-out principle is interpreted according to the Treaty on the Functioning of the EU. Thisprinciple means a prohibition of the liability for commitments or a prohibition of assumption of commitments by the Union or a Member State. A comparison of this interpretation with forms of assistance provided by the ESM leads to the conclusion that theno bail-out principle is not violated. The paper also discusses this conclusion in the context with the prospects of the euro?s introduction in the Czech Republic.
Czech name
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Czech description
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Publication year
2014
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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