Type: Working Paper
European financial solidarity : a concept in search of definition
Working Paper, EUI AEL, 2022/04, European Society of International Law (ESIL) Papers
PANASCÌ, Maria Antonia, European financial solidarity : a concept in search of definition, EUI AEL, 2022/04, European Society of International Law (ESIL) Papers - https://hdl.handle.net/1814/74449
Retrieved from Cadmus, EUI Research Repository
The aim of this paper is to understand the conceptual and legal scope of financial solidarity in the European Union (EU). To this end, the paper offers a theoretical account of EU solidarity that highlights its two inherent dimensions, interstate and interpersonal, and argues that given the complex constitutional nature of the EU and following its most recent crises EU solidarity should be normatively understood as a distributional concept, implying the willingness to share a modicum of resources. Within this conceptual framework, the paper then asks whether the transfers of resources between Member States during the euro area crisis amounted to a genuine expression of solidarity also between citizens. To answer this question, the paper uses Pringle as a test to understand empirically what interstate solidarity in the EU amounted to from a positive law perspective. It concludes that the notion of solidarity that emerged in the Eurozone in the aftermath of the financial crisis does not adhere to a redistributive rationale, being instead rooted in private law and commutative justice.
Cadmus permanent link: https://hdl.handle.net/1814/74449
Series/Number: EUI AEL; 2022/04; European Society of International Law (ESIL) Papers
Publisher: European University Institute
Files associated with this item
- Full-text in Open Access, Published ...