scholarly journals The Degree of Public Intervention for the Definition of Aid Measures and Their Financing is a Key Criterion for Evaluating a Measure as State Aid - Invoking the Economic Crisis is Not a Reason to Declassify the Concept of State Aid

2014 ◽  
Vol 02 (05) ◽  
Author(s):  
Katerina Nikolaidou
Keyword(s):  
Economic Crisis ◽  
State Aid ◽  
Public Intervention ◽  
Definition Of

Greek and Italian ‘Lessons’ on Bank Restructuring: Is Precautionary Recapitalisation the Way Forward?

2017 ◽  
Vol 19 ◽  
pp. 144-164 ◽  
Author(s):  
Marco BODELLINI
Keyword(s):  
Systemic Risk ◽  
State Aid ◽  
Financial Instability ◽  
External Financing ◽  
The European Union ◽  
Public Intervention ◽  
External Resources ◽  
The Stability ◽  
Bank Restructuring ◽  
The Eu

AbstractEven though the bail-in tool is potentially helpful in resolving banks in crisis, it may still create the same issues that resolution is meant to prevent and/or avoid, namely contagion, financial instability and also systemic risk. Recent cases of bank restructuring have demonstrated that there are situations in which the use of the bail-in tool could end up being dangerous for the stability of the financial system. Obviously in such cases, the write down and/or conversion into equity of the bank’s liabilities must be avoided. At the same time, however, the disapplication of bail-in makes the provision of external resources necessary to rescue effectively the bank in crisis.The EU legislator was aware of these potential issues and for this reason introduced a number of rules allowing, in certain situations, both the disapplication of the bail-in tool and the provision of external financing. Nevertheless, when the provision of external financing comes from the Member States, it has to comply with the rules of the State aid framework set by the Treaty on the Functioning of the European Union (TFEU) and applied by the European Commission. In this article, it is argued that despite the strict rules on State aid, there is still room to manage even difficult banking crisis situations in which the application of the bail-in tool could be counterproductive and therefore public intervention should take place through the so-called precautionary recapitalisation instead. However, in this regard, it is crucially important that the authorities intervene before the bank in trouble ‘crosses the line’ of insolvency, as some recent cases of Greek and Italian banks have demonstrated.

scholarly journals Controversies Concerning the Interpretation of State Resources as a Prerequisite of State Aid: an Illustration Using the Example of Polish Green Certificates and the Auction System

2017 ◽  
Vol 7 ◽  
pp. 269-282
Author(s):  
Michał Bałdowski
Keyword(s):  
Renewable Energy Sources ◽  
State Aid ◽  
Energy Sources ◽  
The European Union ◽  
Member States ◽  
Broad Definition ◽  
Negative Results ◽  
Court Of Justice ◽  
Green Certificates ◽  
Definition Of

The process of Europeanisation in the legal field results in various conflicts between the Member States and European authorities. Cases concerning State aid are an example of such a conflict, where on one hand Member States want to preserve control over various supporting schemes and on the other the European Commission and the Court of Justice of the European Union through a set of judgements and decisions increase their supervisory power over the supporting schemes. The European jurisprudence tend to stretch the scope of State aid by expanding the definition of State resources, which is one of its prerequisites. Applying of such a broad definition of State resources to Polish green certificates scheme and the auction scheme shows negative results of this approach that not only decreases the efficiency of the Renewable Energy Sources supporting schemes but that has a negative reflection on the whole State aid system.

scholarly journals Strategic Security of the Enterprise: Approaches, Features, Mechanism and Problems of Ensuring

2021 ◽  
Vol 93 ◽  
pp. 03029
Author(s):  
Natalia Pasmurtseva
Keyword(s):  
Economic Crisis ◽  
World Economy ◽  
Strategic Plan ◽  
Security Mechanism ◽  
Important Condition ◽  
Current Trends ◽  
The World ◽  
The Face ◽  
Definition Of

In today's world, with the current geopolitical situation and current trends in the world economy, their ability to ensure their own strategic security is the most important condition for the survival of enterprises. The aim of the study is to formulate the specifics of "strategic security" and to develop a strategic security mechanism for the enterprise in the face of the developing economic crisis. The paper presents the author's definition of "strategic security" and highlights its features. On the basis of the studied models, the main stages of the company's strategic security mechanism are formulated and their characteristics are given. A range of problems to implement the mechanism within the framework of the company's strategy or strategic plan has been defined.

scholarly journals Competition Policy during the Economic Crisis – legal issues

Equilibrium ◽  
2010 ◽  
Vol 4 (1) ◽  
pp. 79-89
Author(s):  
Mateusz Błachucki ◽  
Rafał Stankiewicz
Keyword(s):  
Economic Crisis ◽  
Competition Policy ◽  
Public Policies ◽  
Competition Law ◽  
Case Law ◽  
State Aid ◽  
Legal Issues ◽  
Public Authorities ◽  
Made In

The paper addresses the issue of legal issues of competition policy during the economic crisis. During the economic crisis public authorities are forced to redefine the aims of public policies and harmonize them. The paper aims at identifying spheres, where competition policy is limited by other public policies. First, the problem of crisis cartels and their admissibility under competition law is discussed. It is followed by the presentation of the exemptions to the general prohibition of anticompetitive mergers. Last but not least, the temporary framework for state aid in the UE is presented. It has been argued that during the economic crisis public authorities use peculiar legal instruments of competition policy to address problems arising from the crisis. Whenever it is possible reference to the case law is made in order to present the application of presented problems in practice.

scholarly journals Public Intervention and Open Market System in Health Services

2014 ◽  
Vol 9 (2) ◽  
pp. 1585-1592
Author(s):  
M. Hanifi Aslan ◽  
Filiz Golpek
Keyword(s):  
Health Services ◽  
Service Sector ◽  
Significant Proportion ◽  
Open Market ◽  
Economic Activities ◽  
Market System ◽  
Public Intervention ◽  
Goods And Services ◽  
Service Production ◽  
Definition Of

In many economies, a significant proportion of service production is organized within market system. In the market system, the units in this organization base their economic activities on profit and benefit maximization. However, in most parts of service sector, pure competition conditions may not be valid. Health services are different from the goods which are produced and distributed by the open market. While some activities which are within the scope of health services are close to the definition of public, most of them have the characteristics of semipublic goods and services. Considering the importance which the mentioned services have regarding the society with their social benefits and the social costs which they will cause unless they are produced sufficiently, it could be argued that besides the open market, the public should also produce these services. The aim of this study is to present the insufficiency of market system in producing health services and analyze the intervention methods of public in order to compensate the insufficiency.

Islamic Economic Redefinition and its Methodology Among Contemporary Thinkers

2020 ◽  
Vol 1 (1) ◽  
pp. 7-17
Author(s):  
Abi Suar ◽  
Meirson Meirison ◽  
Zerly Nazar
Keyword(s):  
Economic Crisis ◽  
Scientific Knowledge ◽  
Analytical Methods ◽  
Research Method ◽  
Core Concept ◽  
Basic Assumptions ◽  
Library Research ◽  
Islamic Economic ◽  
Definition Of ◽  
Unity Of Knowledge

  Abstract: The Islamic economic crisis from an epistemological perspective has been going on in recent years, based on many Islamic economic figures' writings. Monzer Kahf argues about Islamic economics's definition that there is no agreement among Muslim economists about the definition of Islamic economics, its scope, its relation to conventional economics, analytical methods and instruments, and even some of its basic assumptions. They view that the Islamic economy epistemologically still needs to be studied, while this Study, which has been going on for 40 years, seems to be running in place. In this Study, researchers used a library research method. This aims to reveal the redefinition of Islamic economics from contemporary economists, the methodological crisis that has hit Islamic economics, and the urgency of developing Islamic economics methodology among contemporary thinkers. The essence of the urgency of developing methodologies and approaches in Islamic economics is tawhid. The central or core concept that permeates all aspects of the epistemology of Islamic economics is tawhid. Tawhîd is the essence of Islam; tawhîd is considered the unity of knowledge and can be broken down into sources, methods and scientific knowledge. Knowledge comes from Allah's revelations to His Prophet, and reasoning, perception, and empiricism. Because of al-Attas, God's first type of knowledge is through direct revelation. The second is through the speculation of rational investigations based on his experience of the plausible and understandable.  

Interaction of Global Crisis and Social and Political Thought

2011 ◽  
pp. 86-90
Author(s):  
O. Bogomolov
Keyword(s):  
Physical Health ◽  
Economic Crisis ◽  
Political Thought ◽  
Social Life ◽  
Political System ◽  
Urgent Problem ◽  
Economic Practice ◽  
The World ◽  
Definition Of ◽  
Reform Model

The relative weakness of the modern social and political thought is especially visible against the background of the global economic crisis and historical changes in the world. We see a trampling on outdated ideological and historical positions, as well as a lack of the ability to produce a generalized vision of the new trends and realities of social life, correctly assessing their meaning, direction, possible consequence. Most importantly, there is a failure to offer an adequate practical political vector of actions. The definition of the post-reform model of social and political system remains an urgent problem for Russia as well. Academic thought must provide political and economic practice by adequate indicators enabling to evaluate spiritual, moral and physical health of the society, efficiency of the governmental apparatus, the quality and professionalism of managers.

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