Mini-BOTs, complementary currencies and the European monetary malaise

On May 28th, the Italian Chamber of Deputies approved a resolution requiring the government to issue the so-called mini-BOTs. Under such a name, reference is made to Treasury bills issued in small denominations (in Euros), bearing no interest, with no expiry date, and which the Italian Exchequer would accept as a means of payment of taxes. The proposal has been predictably met with marked skepticism by European institutions and by the Italian Minister of Economy and Finance. However, the wisest move, in prudential, political and economic terms, would be that European institutions would embrace experimentation with complementary currencies, in genuine federal spirit.

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Not to be Pushed Aside: the Italian Constitutional Court and the European Court of Justice

A few days ago, with the decision no 20/2019, the Italian Constitutional Court (ICC) has set a new cornerstone in its relationship with EU law and, in particular, with the judicial treatment of issues covered by both national fundamental rights and the Charter of Fundamental Rights of the European Union. In so doing, the Consulta shows the intention to act as a pivotal institution in the field of judicial protection of fundamental rights.

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Rationalising political representation within the European Parliament: the Italian Constitutional Court rules on the threshold for the European elections

In December 2018, the Italian Constitutional Court found the national 4% threshold for elections to the European Parliament to be constitutional. Unlike the Bundesverfassungsgericht, which focused in-depth on the European state of affairs at a given stage, the Corte costituzionale has pointed to a gradual evolutionary development towards “a rationalisation of the representation of political forces within the European parliamentary assembly”. According to this interpretation, both the national parliaments and the European Parliament face similar challenges.

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Playing the chicken game: The conflict over Italy’s draft budget reveals a construction flaw in the EMU

The next period of nightlong European summits and standoffs between the European institutions and one of its member states is looming: Italy and the EU are at odds about its new budget proposal. This is a result of the setup of the Economic and Monetary Union, which will continue to produce such stalemates as long as dominant countries make common rules for their own sake and others try to circumvent them.

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The Italian Budget Drama – Brussels and Rome on Collision Course

The EU Commission has, for the first time, rejected a budget plan of a member state. While the Italian government drums its chest and the markets get increasingly nervous, the situation remains deadly serious. It is moreover deeply symptomatic of the potential, limits and fundamental shortcomings of the current architecture of Eurozone fiscal governance.

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The Italian President and the Security of the European Project

In a previous post, I have argued that the recent decision of the Italian President Mattarella to refuse to appoint as Finance Minister Paolo Savona, was constitutional. Many have argued either in favour or against Mattarella’s decision, either from legal or political perspective, or both. My argument is as follows: (a) the decision to refuse Savona’s appointment is not only legal, but also legitimate, as confirmed by the legal-historical context, in which the Italian form of government has developed; (b) the reasons behind Mattarella’s decision are deeply linked with the “security of the European project”, a rationale which has been a constant feature of European integration. Yet conflicts and contradictions have been concealed for too long and should be addressed more directly.

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A Crisis Made in Italy

The recent crisis surrounding the Italian President’s refusal to appoint a Finance Minister considered likely to pursue an agenda of ‘Italexit’ has sparked a great deal of constitutional commentary. Two particular threads of opinion are identified here and some doubts cast about them. On the one hand, there are those who consider legitimate the President’s discretionary use of power, partly in light of the pressure that would be brought to bear by the financial markets should Italy opt for exiting the single currency. On the other hand, there are those who doubt its wisdom, and offer a broader indictment of the pressure brought to bear on the Italian government as a result of being in an overly rigid Eurozone. This gets closer to diagnosing the condition, but in its ambiguity about the pressure point, fails to underscore that this is essentially a crisis made in Italy, and, if at all, to be resolved there, including a full and frank debate about membership of the single currency and even the European Union.

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Two Courts, two Languages? The Taricco Saga Ends on a Worrying Note

The epic story of the confrontation between the Italian Constitutional Court (ICC) and the European Court of Justice (ECJ) that has become known under name Taricco has come to an end at last – somewhat different than expected, but nevertheless. On May 31 the ICC has handed down its final judgment. The hatchet between the Courts is buried. But the way it was done by the ICC is by no means conciliatory.

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