Counterclaims are claims raised by respondents. Various international courts and tribunals have expressed their jurisdiction to hear counterclaims as an emanation of their inherent powers, even though their constitutive instruments are silent. Modern rules of court often contain provisions on...

This chapter examines the rise and fall of the International Financial Commission in Greece, set against the background of Greek public finances in the 19th century. The IFC played a central role in Greek economic life up to and throughout the interwar period. It is a leading example of a...

Following the catastrophe of the Great Depression and World War II, two separate, but interrelated international legal orders arose, one for international monetary matters, and the other for international trade. Since every transaction in the cross-border sale of goods, outside of barter,...

This book chapter compares the International Monetary and Trade Legal Orders during the inter-war period and the post-cold war period. During the period between the two world wars, the protectionist legacy of the World War I in the form of trade and financial restrictions persisted. National...

This chapter explores how the wide range of interpreters that populate international law, forming part of interpretive communities, affects interpretation in international law. To understand how interpretation in international law works in practice, we need to appreciate the role of interpretive...

During 1982–83 and 2003–04, two waves of decentralization in France devolved more powers to the three levels of subnational governments (SNGs): the municipalities, the departments, and the regions. This new institutional framework has enabled SNGs to enjoy a greater degree of autonomous...

The European Union (EU) has had competence over trade in goods since its inception in 1957. The EU has exercised this external competence through its Common Commercial Policy (CCP). As one of the most dynamic fields of EU external relations, the scope and the nature of the CCP has evolved...

As a result of worldwide decentralization, subnational debt is rising. Subnational debt crises in major developing countries in the 1990s have led to strengthened regulatory frameworks for subnational borrowing and insolvency. With the fragility of the global recovery and increasing public debt,...

Subnational insolvency is a reoccurring event in development, as demonstrated by historical and modern episodes of subnational defaults in both developed and developing countries. Insolvency procedures become more important as countries decentralize expenditure, taxation, and borrowing, and...