The Basic Law sets out the way in which the Hong Kong Special Administrative Region (HKSAR) is to be administered for 50 years beyond 1997. It promises that the socialist system and policies in the People's Republic of China (PRC) will not apply to the HKSAR under the doctrine of 'One Country,...

Starting from the view that the crises in the euro zone were basically triggered by financial markets and reinforced by a lack of instruments for effective economic policy at the EMU level (Economic and Monetary Union), this working paper contributes to the ongoing debate on how to reform the...

The fiscal governance of the European Economic and Monetary Union (EMU) was the result of a political compromise. This led to an imbalanced and unsustainable framework, which contributed to the outbreak of the Eurozone debt crisis. During the crisis, European leaders embarked on a reform effort...