Max-Planck-Institut für ausländisches öffentliches Recht und Völkerrecht Logo Max-Planck-Institut für ausländisches öffentliches Recht und Völkerrecht

Sie befinden sich hier: Forschung Forschung nach Rechtsgebieten Internationaler Menschenrechtsschutz, Minderheitenschutz Sovereign Debt Crisis Resolution and ESC Rights from the Perspective of International Law

Sovereign Debt Crisis Resolution and ESC Rights from the Perspective of International Law

Sovereign debt crisis resolutions (or sovereign debt workouts) might affect the enjoyment of internationally recognized economic, social and cultural rights (ESC rights) by persons living in debtor states. This thesis seeks to examine this international legal problem. Pertinent legal and economic terms - such as ESC rights “obligations” and “violations”, and “debt crisis resolution” must be defined in order to explicate clearly the scope of the inquiry. Subsequently, the two ways in which ESC rights can be potentally affected in the context of sovereign debt workouts – i.e. i) through the devotion of available resources” by the debtor state to debt repayment at the expense of the realization of those rights, and ii) through the adoption and implementation of conditionalities attached to crisis resolution agreements - are analysed and examples are provided. The case in point is the Eurozone debt crisis resolution in Portugal, Spain, Cyprus, Ireland and Greece. The ensuing doctrinal analysis investigates the main actors involved in sovereign debt workouts – namely, the debtor state, as well as third states and international financial institutions as its official creditors - aiming to answer the following set of questions: (i) which among those actors bear ESC rights obligations under international law? (ii) what is the meaning and scope of these obligations, how are they distributed among the respective actors, and how are they interrelated? (iii) under what conditions it can be held that the aforementioned ESC rights impact amounts to a breach of the related obligations of the actors under scrutiny? Finally, (iv) how do issues of attribution and international legal responsibility apply to the situation in question? The thesis concludes with an assessment of the benefits and disadvantages of an ESC rights-based approach to the management of sovereign debt crises.


PhD candidate

Supervisor