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The Protection of Economic, Social and Cultural Rights of Persons Belonging to Marginalized and Vulnerable Groups in Times of Financial Crisis: How to Reconcile the Irreconcilable?

The Protection of Economic, Social and Cultural Rights of Persons Belonging to Marginalized and... Part I Articles A. GENERAL ARTICLES SECTION Marco Fasciglione* I. Introduction The full enjoyment of all human rights requires that adequate resources be allocated to this goal by states. However, the available resources are increasingly limited and the resource allocation undermined by the contemporary financial crisis and economic recession, as well as by anti-crisis measures to be adopted for the alleviation of debt and debt-service burdens of countries.¹ In effect, since the inception of the global financial crisis in 2007, the world has witnessed unstable and fragile markets and collapses of major financial and banking institutions. This crisis is affecting virtually all sectors of society; it has not been restricted to particular borders, countries or geographical regions and its impact is felt from the most developed countries to the least developed ones. In particular, it is estimated that the economic crisis will trap about 53 million more people in poverty * 1 Marco Fasciglione is Senior Researcher in International Law, Institute for International Legal Studies (ISGI-CNR), Naples. The contemporary crisis of the international financial markets, begun in 2007 as an US housing bubble mainly due to the so-called sub-prime and adjustable rate mortgages, turned in 2010 into a http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png European Yearbook of Minority Issues Online Brill

The Protection of Economic, Social and Cultural Rights of Persons Belonging to Marginalized and Vulnerable Groups in Times of Financial Crisis: How to Reconcile the Irreconcilable?

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Publisher
Brill
Copyright
© Copyright 2014 by Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1570-7865
eISSN
2211-6117
DOI
10.1163/22116117-90110038
Publisher site
See Article on Publisher Site

Abstract

Part I Articles A. GENERAL ARTICLES SECTION Marco Fasciglione* I. Introduction The full enjoyment of all human rights requires that adequate resources be allocated to this goal by states. However, the available resources are increasingly limited and the resource allocation undermined by the contemporary financial crisis and economic recession, as well as by anti-crisis measures to be adopted for the alleviation of debt and debt-service burdens of countries.¹ In effect, since the inception of the global financial crisis in 2007, the world has witnessed unstable and fragile markets and collapses of major financial and banking institutions. This crisis is affecting virtually all sectors of society; it has not been restricted to particular borders, countries or geographical regions and its impact is felt from the most developed countries to the least developed ones. In particular, it is estimated that the economic crisis will trap about 53 million more people in poverty * 1 Marco Fasciglione is Senior Researcher in International Law, Institute for International Legal Studies (ISGI-CNR), Naples. The contemporary crisis of the international financial markets, begun in 2007 as an US housing bubble mainly due to the so-called sub-prime and adjustable rate mortgages, turned in 2010 into a

Journal

European Yearbook of Minority Issues OnlineBrill

Published: Nov 17, 2014

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