LABOUR LAW AND BALANCED BUDGETS: TWO DIFFERENT POINTS OF VIEW BETWEEN ITALY AND THE EUROPEAN UNION? The European legislation on labour policies is emblematically represented by the system managed by the European Central Bank (ECB) in which price stability first comes, then all the rest. Unlike other similar institutions, the ECB is the only central bank whose sole objective is to maintain price stability, or better win the fight against inflation. Unlike the ECB, the US Federal Reserve has the so-called dual mandates, which is a dual objective of intervention: price stability and employment. In this sense, the Fed is required to effectively promote the objectives of maximum employment, stable prices and moderate long-term interest rates, protecting in an equal way both the needs of the market economy and the rights of workers. In the European Union, in general, the objective of price stability is in fact superordinate to all the others, even those that Art. 3 of the Treaty of the European Union seemed to be on the same level. The fight against unemployment therefore becomes secondary even if, for example, in the Italian constitution the right to work since 1948 is considered a fundamental right. The decisive point is that the prevailing value is attributed to monetary stability with the consequent weakening of policies - potentially inflationary - such as the active ones of labour and more generally of stimulus of the economy. The new EU policies on financial issues are therefore destined to have a strong impact on the regulation of workers' rights in individual states. And above all in Italy where the principle of a balanced budget in 2012 even became a constitutional provision.

Prawo pracy i zrównoważony budżet: dwa rózne punkty widzenia między Włochami a Unią Europejską?

giovanni bianco
2018

Abstract

LABOUR LAW AND BALANCED BUDGETS: TWO DIFFERENT POINTS OF VIEW BETWEEN ITALY AND THE EUROPEAN UNION? The European legislation on labour policies is emblematically represented by the system managed by the European Central Bank (ECB) in which price stability first comes, then all the rest. Unlike other similar institutions, the ECB is the only central bank whose sole objective is to maintain price stability, or better win the fight against inflation. Unlike the ECB, the US Federal Reserve has the so-called dual mandates, which is a dual objective of intervention: price stability and employment. In this sense, the Fed is required to effectively promote the objectives of maximum employment, stable prices and moderate long-term interest rates, protecting in an equal way both the needs of the market economy and the rights of workers. In the European Union, in general, the objective of price stability is in fact superordinate to all the others, even those that Art. 3 of the Treaty of the European Union seemed to be on the same level. The fight against unemployment therefore becomes secondary even if, for example, in the Italian constitution the right to work since 1948 is considered a fundamental right. The decisive point is that the prevailing value is attributed to monetary stability with the consequent weakening of policies - potentially inflationary - such as the active ones of labour and more generally of stimulus of the economy. The new EU policies on financial issues are therefore destined to have a strong impact on the regulation of workers' rights in individual states. And above all in Italy where the principle of a balanced budget in 2012 even became a constitutional provision.
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11586/246978
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