The Spanish Constitutional Reform as a Consequence of the Economic Crisis and the Budgetary Stability
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Title
The Spanish Constitutional Reform as a Consequence of the Economic Crisis and the Budgetary StabilityAuthor (s)
Date
2017Publisher
Osaka UniversityISSN
04721381Bibliographic citation
VILARROIG MOYA, Ramón. The Spanish Constitutional Reform as a Consequence of the Economic Crisis and the Budgetary Stability. Osaka University Law Review, no. 64 (February 2017) 135-160Type
info:eu-repo/semantics/articlePublisher version
http://ir.library.osaka-u.ac.jp/dspace/handle/11094/59678Version
info:eu-repo/semantics/publishedVersionAbstract
In this paper, we are going to discuss what led Spain to carry out a
constitutional reform. The reform that occurred was voted in with a large
majority, however it also received a lot of criticism from the formal ... [+]
In this paper, we are going to discuss what led Spain to carry out a
constitutional reform. The reform that occurred was voted in with a large
majority, however it also received a lot of criticism from the formal aspect and
opportunity.
The reform was brought on because of the economic crisis and the
European conception of facing it. The aim was to combat the crisis from
economic principles such as budgetary stability. The European Union requires
Member States to meet deficit and debt requirements. The ratio of the annual
government deficit to gross domestic product (GDP) should not exceed 3% at
the end of the preceding financial year and the ratio of gross government debt
to GDP should not exceed 60% at the end of the preceding financial year. Being
outside such ratios can even entail sanctions.
At the end of the article an analysis of the Japanese financial situation can
be found, where the difference in debt ratios that far exceed the limits envisaged
by the European Union can be seen. [-]
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OSAKA UNIVERSITY LAW REVIEW No. 64 (February 2017) 135-160Rights
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