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The Lira: Back in the Zone Panel Was Frequently Below the Lower Edge of the Band
February 1997 I,Trends MA~Y It: were frequently realigned. The forward rate in the top The Lira: Back in the Zone panel was frequently below the lower edge of the band. Thus, these narrow target zones were not seen After more than four years, the Italian lira returned as credible by the market. Since reentry, however, the to the Exchange Rate Mechanism (ERM) of the forward rate, as shown in the lower panel, is well European Union (EU) on November 25, 1996. A within the target zone, indicating that market partici- speculative attack had forced the withdrawal of the pants expect the lira to remain within the target lira from the ERM on September 17, 1992. The zones. Thus, the current wide bands appear to be ERM commits member countries to maintain their more credible than the narrower bands of the earlier exchange rates within bilateral bands or target zones period. against all the other currencies. The lira is allowed to Christopher J. Neely fluctuate within margins of 15 percent on both sides of the mid-point of the target zone, known as the central parity, which is 1.0101 DM per 1000 lire for Target Zone, Spot and 1-year Forward Rate the bilateral band with Germany. Although target zones are said to offer the advantages of more stable DM per 1000 Lira exchange rates and greater inflation credibility, the 2.4 primary motivation of the Italian government for rejoining the ERM is the requirement that the lira Target Zone 2.0 remain within the target zone for at least two years before Italy can join the European Monetary Union Spot Rate (EMU). -
Interview with Director of the Italian State Mint November 14, 2011 by Michael Alexander 2 Comments
Interview with Director of the Italian State Mint November 14, 2011 By Michael Alexander 2 Comments Classic numismatic design has its roots in the ancient states of Athens and Rome. Today, this unparalleled tradition continues in the modern city of Rome at the Instituto Poligrafico Zecca dello Stato (IZPS), the Italian State Mint. As Italy celebrates 150 years of Unification in 2011, Michael Alexander of the London Banknote and Monetary Research Centre speaks to Angelo Rossi, Director of the IPZS about its past present and what’s in store for this prime producer of classical European coinage. For many world coin collectors, the coinage of the many Italian states before unification and those of Italy are considered among some of the most beautifully designed with classic renditions of historic persons, legendary and allegorical figures. Italy’s longest serving head of state, king, Victor Emanuel III (reigned 1900 – 1946) took a particular interest in the coinage of a unified Italy as he was a keen life-long coin collector. The former king’s collection was world renowned for including some of the most extraordinary rarities, (including some of the coins issued under his reign with his portrait) and much of it is on display in the Roman Museum to delight dedicated numismatists. Italian coinage has continued to carry on the long established tradition of classically designed small works of art which can be seen throughout their designs. Should you find yourself in Europe’s Eternal City, I can heartily recommend a visit to the Roman Museum as well as the Temple where the first Mint is said to have existed, a veritable plethora of homage to our beloved activity. -
Island Microstates: the Mirage Ofdevelopment
, , Island Microstates: The Mirage ofDevelopment John Connell There are twenty politically independent island microstates in the devel oping world-that is, states with populations of less than a million (Table I). Though various definitions of Third World microstates are possible (that might also include Mauritius, Nauru, or Singapore) none are as con venient as this crude generalization. In this paper I examine development trends in these states, reflect on the meaning of independence, and com pare and contrast the experience of these states with dependent and often neighboring territories and colonies. In particular I focus on the extent to which the structure of economic change is conducive to long-term devel opment, and seek to compare the experiences of Pacific states with those of other island microstates. These experiences are often shared by larger countries (such as Jamaica or Papua New Guinea) and by landlocked states, either in Africa (eg, Lesotho) or Asia (eg, Bhutan) or even in Europe (eg, Andorra and Liechtenstein): "it is not always easy to disentan gle the effects of smallness from those of remoteness and peripheralness or from those of newness. It may not in the end be specially profitable to try to do so" (Davies 1985, 248; cf, Connell 1988a). I shall not do so here. Islands are not so unusual, but small island states are quite different from larger states, in the structure and context of their economic development. Definitions of development have been legion, mainly revolving around issues such as basic needs, equity, self-reliance, and power. More than twenty years ago the economist Dudley Seers suggested, "The questions to ask about a country's development are: What has been happening to pov erty? What has been happening to unemployment? What has been hap pening to inequality?" (1969, 3). -
History of San Marino
History of San Marino The official date of the foundation of the Republic of San Marino is AD 3 September 301. Legend states that a Christian stonecutter named Marinus escaped persecution from the Roman emperor Diocletian by sailing from the Croatian island of Arbe across the Adriatic Sea to Rimini. Marinus became a hermit, taking up residency on Monte Titano, where he built up a Christian community. He was later canonized andthe land renamed in his honor. Throughout the Middle Ages, the tiny territory made alliances and struggled to remain intact as a string of feudal lords attempted to conquer it in their attempts to control the Papal States. On 27 June 1463, Pope Pio II gave San Marino the castles of Serravalle, Fiorentino, and Montegiardino. The castle Faetano voluntarily joined later that year, increasing San Marino’s boundaries to their present size. In 1503, Cesare Borgia managed to conquer and rule San Marino for six months. In 1739, Cardinal Alberoni’s troops occupied San Marino. After many protests, the Pope sent Monsignor Enrico Enriquez to investigate the legality of Alberoni’s occupation, and San Marino subsequently regained its independence on St. Agatha’s day, now a national holiday. In 1797, Napoleon invaded the Italian peninsula. Reaching Rimini, he stopped short of San Marino, praising it as a model of republican liberty. San Marino declined his offer to extend its lands to the Adriatic Sea. With the fall of Napoleon, San Marino was recognized as an independent state, adopting the motto Nemini Teneri (Not dependent upon anyone). San Marino remains neutral in wartime, but many Sammarinese volunteered in the Italian Army during World War I. -
Towards an Understanding of the Contemporary Artist-Led Collective
The Ecology of Cultural Space: Towards an Understanding of the Contemporary Artist-led Collective John David Wright University of Leeds School of Fine Art, History of Art and Cultural Studies Submitted in accordance with the requirements for the degree of Doctor of Philosophy December 2019 The candidate confirms that the work submitted is his own and that appropriate credit has been given where reference has been made to the work of others. This copy has been supplied on the understanding that it is copyright material and that no quotation from the thesis may be published without proper acknowledgement. The right of John David Wright to be identified as Author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. 1 Acknowledgments Thank you to my supervisors, Professor Abigail Harrison Moore and Professor Chris Taylor, for being both critical and constructive throughout. Thank you to members of Assemble and the team at The Baltic Street Playground for being incredibly welcoming, even when I asked strange questions. I would like to especially acknowledge Fran Edgerley for agreeing to help build a Yarn Community dialogue and showing me Sugarhouse Studios. A big thank you to The Cool Couple for engaging in construcutive debate on wide-ranging subject matter. A special mention for all those involved in the mapping study, you all responded promptly to my updates. Thank you to the members of the Retro Bar at the End of the Universe, you are my friends and fellow artivists! I would like to acknowledge the continued support I have received from the academic community in the School of Fine Art, History of Art and Cultural Studies. -
Anguilla: a Tourism Success Story?
Visions in Leisure and Business Volume 14 Number 4 Article 4 1996 Anguilla: A Tourism Success Story? Paul F. Wilkinson York University Follow this and additional works at: https://scholarworks.bgsu.edu/visions Recommended Citation Wilkinson, Paul F. (1996) "Anguilla: A Tourism Success Story?," Visions in Leisure and Business: Vol. 14 : No. 4 , Article 4. Available at: https://scholarworks.bgsu.edu/visions/vol14/iss4/4 This Article is brought to you for free and open access by the Journals at ScholarWorks@BGSU. It has been accepted for inclusion in Visions in Leisure and Business by an authorized editor of ScholarWorks@BGSU. ANGUILLA: A TOURISM SUCCESS STORY? BY DR. PAUL F. WILKINSON, PROFESSOR FACULTY OF ENVIRONMENTAL STUDIES YORK UNIVERSITY 4700KEELE STREET NORTH YORK, ONTARIO CANADA MJJ 1P3 ABSTRACT More than any other Caribbean community, the Anguillans [sic )1 have Anguilla is a Caribbean island microstate the sense of home. The land has been that has undergone dramatic tourism growth, theirs immemorially; no humiliation passing through the early stages of Butler's attaches to it. There are no Great tourist cycle model to the "development" houses2 ; there arenot even ruins. (32) stage. This pattern is related to deliberate government policy and planning decisions, including a policy of not having a limit to INTRODUCTION tourism growth. The resulting economic dependence on tourism has led to positive Anguilla is a Caribbean island microstate economic benefits (e.g., high GDP per that has undergone dramatic tourism growth, capita, low unemployment, and significant passing through the early stages of Butler's localinvolvement in the industry). (3) tourist cycle model to the "development" stage. -
The United Nations' Political Aversion to the European Microstates
UN-WELCOME: The United Nations’ Political Aversion to the European Microstates -- A Thesis -- Submitted to the University of Michigan, in partial fulfillment for the degree of HONORS BACHELOR OF ARTS Department Of Political Science Stephen R. Snyder MARCH 2010 “Elephants… hate the mouse worst of living creatures, and if they see one merely touch the fodder placed in their stall they refuse it with disgust.” -Pliny the Elder, Naturalis Historia, 77 AD Acknowledgments Though only one name can appear on the author’s line, there are many people whose support and help made this thesis possible and without whom, I would be nowhere. First, I must thank my family. As a child, my mother and father would try to stump me with a difficult math and geography question before tucking me into bed each night (and a few times they succeeded!). Thank you for giving birth to my fascination in all things international. Without you, none of this would have been possible. Second, I must thank a set of distinguished professors. Professor Mika LaVaque-Manty, thank you for giving me a chance to prove myself, even though I was a sophomore and studying abroad did not fit with the traditional path of thesis writers; thank you again for encouraging us all to think outside the box. My adviser, Professor Jenna Bednar, thank you for your enthusiastic interest in my thesis and having the vision to see what needed to be accentuated to pull a strong thesis out from the weeds. Professor Andrei Markovits, thank you for your commitment to your students’ work; I still believe in those words of the Moroccan scholar and will always appreciate your frank advice. -
San Marino Legal E
Study on Homophobia, Transphobia and Discrimination on Grounds of Sexual Orientation and Gender Identity Legal Report: San Marino 1 Disclaimer: This report was drafted by independent experts and is published for information purposes only. Any views or opinions expressed in the report are those of the author and do not represent or engage the Council of Europe or the Office of the Commissioner for Human Rights. 1 This report is based on Dr Maria Gabriella Francioni, The legal and social situation concerning homophobia and discrimination on the grounds of sexual orientation in the Republic of San Marino , University of the Republic of San Marino, Juridical Studies Department, 2010. The latter report is attached to this report. Table of Contents A. EXECUTIVE SUMMARY 3 B. FINDINGS 3 B.1. Overall legal framework 3 B.2. Freedom of Assembly, Association and Expression 10 B.3. Hate crime - hate speech 10 B.4. Family issues 13 B.5. Asylum and subsidiary protection 16 B.6. Education 17 B.7. Employment 18 B.8. Health 20 B.9. Housing and Access to goods and services 21 B.10. Media 22 B.11. Transgender issues 23 Annex 1: List of relevant national laws 27 Annex 2: Report of Dr Maria Gabriella Francioni, The legal and social situation concerning homophobia and discrimination on the grounds of sexual orientation in the Republic of San Marino, University of the Republic of San Marino, Juridical Studies Department, 2010 31 A. Executive Summary 1. The Statutes "Leges Statuae Reipublicae Sancti Marini" that came into force in 1600 and the Laws that reform such Statutes represented the written source for excellence of the Sammarinese legal system. -
MICRO-STATES in the INTERNATIONAL SYSTEM The
MICRO-STATES IN THE INTERNATIONAL SYSTEM The Challenge of Sovereignty by JOHN BARRY BARTMANN In submission for the degree of Doctor of Philosophy The London School of Economics and Political Science The University of London UMI Number: U615182 All rights reserved INFORMATION TO ALL USERS The quality of this reproduction is dependent upon the quality of the copy submitted. In the unlikely event that the author did not send a complete manuscript and there are missing pages, these will be noted. Also, if material had to be removed, a note will indicate the deletion. Dissertation Publishing UMI U615182 Published by ProQuest LLC 2014. Copyright in the Dissertation held by the Author. Microform Edition © ProQuest LLC. All rights reserved. This work is protected against unauthorized copying under Title 17, United States Code. ProQuest LLC 789 East Eisenhower Parkway P.O. Box 1346 Ann Arbor, Ml 48106-1346 l WCL£ S F 7 4-Fo ABSTRACT The last forty years have witnessed a proliferation of veiy small states, or micro- atates with populations of approximately one million or less. Most of these states are developing economies but in recent years even the smallest European micro-states have won acceptance in the councils of the organised international system. This study is a comprehensive examination of the international relations of these states in three principal areas of concern: issues of status and legitimacy; the conduct of diplomacy and the efforts of micro-states to achieve strategies of self-reliant economic development. While the research has confirmed the vulnerabilities of micro-states in all three areas which have been stressed in the literature of the last decade, it also reveals surprising opportunities for some micro-states to ameliorate their weaknesses and to achieve a constructive engagements within the international system. -
Europe Without the EU? by Filippo L
Europe without the EU? by Filippo L. Calciano1, Paolo Paesani2 and Gustavo Piga3 Policy Brief 1 Introduction The aim of this paper is to conduct a simple albeit daring exercise in counterfactual history: we discuss what the consequences for European countries would be, in the midst of the current economic crisis, if the European Union did not exist. The EU is both a monetary union and a political and institutional union, and in this study we consider both aspects. As a monetary union, the EU manages the common currency, the euro, through the actions of the European Central Bank (ECB). As a political union the EU serves many purposes, the most important of which, with respect to the current economic crisis, is to provide a privileged forum to coordinate Member States’ anti-crisis policies. As a matter of fact, since the beginning of the cr isis, European leaders have held numerous European Council meetings as well as preparatory G-8 and G-20 meetings, confirming the urgent need for policy coordination and cooperation both at EU and international level. In this study we pose and answer the following two questions: 1. What would the consequences of the current crisis be for European countries if the euro had not been introduced ten years ago; that is, if European Monetary Union (EMU) had failed? 1 CORE, Université Catholique de Louvain-la-Neuve, and Department of Economics, University of Rome 3, email: fi[email protected]. 2 Department of Economics, University of Rome 2, email: [email protected]. 3 Department of Economics, University of Rome 2, corresponding author, email: [email protected]. -
Among Microstates Expand, Orjoin a Reqiof),,L
\Ws 19IL POLICY RESEARCH WORKING PAPER 1922 Public Disclosure Authorized Regional Groupings Thismocl-;hoosthitL microstate'sdecisio-)n to rcra:, Among Microstates expand, orJoin a reqiof),,l Public Disclosure Authorized organization is based on Soamiely Andriamananjara reducednegotiating cos[s arnd increasedI bargG,irjar Maurice Schiff power,rarhar than nt t' traditional custsa-ra her efiU, of trade integration. Public Disclosure Authorized Public Disclosure Authorized The World Bank DevelopmentResearch Group May1998 POLICY RESEARCHJ VVORMKN': PAINFPR1922 Summary findings Forming a regional grouping with neighboring nations Under various conditions for entry, the model is used may be one way for microstates to overcome a major to determine the equilibrium group size, which is shown problem: Because of their weak bargaining power and to be positively correlated with the number of issues to high fixed costs of negotiation, microsrates are at a be tackled, the degree of similarity among countries, and severe disadvantage in dealing with the rest of the world. the per-issue costs of international negotiation. They don't have the hunman and physical resources to They use the case of the Caribbean Conmmunity unilaterally conduct the various bilateral and mnultilaterai (CARICOM) to show the model's relevance in the r eal negotiations a developing nation typically conducts. world. The countries that belong to CARICOM pooled Andriamananiara and Schiff present a model in which their negotiating resources and formulated common the decision to form, expand, or join a regional "club" is policy stances. Despite its relatively limited impact on based on reduced negotiating costs and increased trade and investments, CARICOM served as a political bargaining power, rather than on the traditionial costs instrument in joint negotiations on trade and investment and benefits of trade integration (which might be with larger countries and regional trade blocs. -
The Economic and Monetary Union: Past, Present and Future
CASE Reports The Economic and Monetary Union: Past, Present and Future Marek Dabrowski No. 497 (2019) This article is based on a policy contribution prepared for the Committee on Economic and Monetary Affairs of the European Parliament (ECON) as an input for the Monetary Dialogue of 28 January 2019 between ECON and the President of the ECB (http://www.europarl.europa.eu/committees/en/econ/monetary-dialogue.html). Copyright remains with the European Parliament at all times. “CASE Reports” is a continuation of “CASE Network Studies & Analyses” series. Keywords: European Union, Economic and Monetary Union, common currency area, monetary policy, fiscal policy JEL codes: E58, E62, E63, F33, F45, H62, H63 © CASE – Center for Social and Economic Research, Warsaw, 2019 DTP: Tandem Studio EAN: 9788371786808 Publisher: CASE – Center for Social and Economic Research al. Jana Pawła II 61, office 212, 01-031 Warsaw, Poland tel.: (+48) 22 206 29 00, fax: (+48) 22 206 29 01 e-mail: [email protected] http://www.case-researc.eu Contents List of Figures 4 List of Tables 5 List of Abbreviations 6 Author 7 Abstract 8 Executive Summary 9 1. Introduction 11 2. History of the common currency project and its implementation 13 2.1. Historical and theoretic background 13 2.2. From the Werner Report to the Maastricht Treaty (1969–1992) 15 2.3. Preparation phase (1993–1998) 16 2.4. The first decade (1999–2008) 17 2.5. The second decade (2009–2018) 19 3. EA performance in its first twenty years 22 3.1. Inflation, exchange rate and the share in global official reserves 22 3.2.