This article compares German and Belgian laws with regard to security interests in corporeal movables, economically analysing the differences to reach a normative conclusion. Belgium is currently implementing a major reform in this field, which, combined with the different stance of both regimes...

The confidence that financial markets are able to discipline the debt behaviour of governments is not very high. Therefore, the Stability and Growth Pact has been implemented as an institutional constraint to substitute for the market mechanism. With the weakening of the Pact, market discipline...