Joanna Diane Caytas JD Candidate, Columbia Law School 2017 The post-2008 public debt crisis alerted the Eurozone – and Europe as a whole – to its dangerous love affair with the outdated notion that states cannot go bankrupt and therefore can take on quasi-unlimited levels of debt. Greece and Cyprus called this bluff in 2012-13 with dramatic consequences. Ever since, the continent has been in search of ways and means to bring under control unsustainable levels of sovereign borrowings that cannot be passed on to the banking and financial sector without laying the foundation for equally expensive bailouts. Just as […]
retroactive taxation
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