A legal analysis of the third Greek "Bail out" is carried out in order to show that both necessity (art. 25, ILC "Draft Articles on Responsibility of States for internationally Wrongful Acts") and economic coercion (art. 18) could come to the fore in this case. More precisely, necessity could be invoked by Greece as a circumstance precluding wrongfulness in the event of non-compliance with the obligation to reimburse loans received by the EMS. At the same time, economic coercion could be invoked, no effective choice being given to Greece, but to comply with the wishes of the EMS, .
De Sena, P., Starita, M., Fra stato di necessità ed (illecito) intervento economico: il terzo “Bail Out” della Grecia, <<QUADERNI DI SIDIBLOG>>, 2016; 2015 (3): 119-133 [http://hdl.handle.net/10807/122845]
Fra stato di necessità ed (illecito) intervento economico: il terzo “Bail Out” della Grecia
De Sena, Pasquale;
2016
Abstract
A legal analysis of the third Greek "Bail out" is carried out in order to show that both necessity (art. 25, ILC "Draft Articles on Responsibility of States for internationally Wrongful Acts") and economic coercion (art. 18) could come to the fore in this case. More precisely, necessity could be invoked by Greece as a circumstance precluding wrongfulness in the event of non-compliance with the obligation to reimburse loans received by the EMS. At the same time, economic coercion could be invoked, no effective choice being given to Greece, but to comply with the wishes of the EMS, .
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