Escape Clause Research Articles

Cross-border telework and the applicable labour law: The role of different connecting factors in determining objectively applicable law

In the case of cross-border employment, the applicable law is determined mainly according to habitual place of work. If this factor cannot be clarified, the engaging place of business of the employer determines the applicable law. Both factors can be set aside if the relationship is more closely connected to some other country. Telework is performed outside the employers’ premises, and the determination of the exact workplace can be difficult. This again complicates the determination of the applicable law in cross-border cases. This article analyses how, in the case of cross-border telework, the applicable law should be determined. It is argued that the exact system depends on the type of telework. If telework is performed in one country abroad, the habitual place of work determines the applicable law. If teleworker has at least two offices or manages his own working time, the second connecting factor applies. As the determination of the applicable law according to the engaging place of business is not considered to be sufficiently employee-protective, escape clause should be emphasised in the second case to guarantee the best employment protection to the employee.

Managing Scope Creeps in Product Led Software-Based Organizations

Scope creep presents a significant challenge for project managers throughout the project lifecycle. It can lead to budget overruns and schedule delays. This paper explores how project managers, especially those in software development organizations can effectively manage and prevent scope creep during project execution. It delves into the various factors that can contribute to changes in a project's scope and the resulting impacts. Historically, project management has placed more emphasis on cost, time, and performance, with less attention given to scope change management. This paper presents multiple solutions for addressing scope creep. One proposed solution involves establishing a contract to freeze the project's scope during the planning phase. While this approach effectively prevents scope changes, it may not be feasible for many projects. Another suggestion, put forth by T.J. Jach and J.R. Coat in their work "Managing the Change Process on Projects: A Step-by-Step Guide," is to incorporate "escape clauses" into project plans. These clauses involve predetermined procedures and utilize cost- benefit analysis to determine when and if a scope change is necessary. This method offers a structured approach for evaluating the potential impacts of scope changes and can be quite effective. (Jayalath & Somarathna, 2021) Keyword: Scope Creep, Customer Satisfaction, Perception, Expectations, Uncertainty, Security, Software, Expectations

Do balanced budget practices of U.S. states make sense? Alternatives from the Eurozone

Purpose The purpose of this article is to challenge the balanced budget practices of U.S. state governments and offer alternatives that may lead to better fiscal, economic and policy outcomes. We contend that the norm of balance may be leading U.S. states to make fiscal decisions that result in less-than-ideal outcomes, especially during economic downturns.Design/methodology/approach This is a normative article. We examine the scholarly evidence regarding balanced budget practices to assess the appropriateness of balanced budget norms. We also examine the fiscal rules followed by Eurozone countries to draw potential lessons for U.S. states.Findings We conclude that state governments should move away from strict norms of budget balance and seek more flexible approaches. We suggest that instead of following strict rules and norms of balance, U.S. states should consider implementing escape clauses, debt and deficit ceilings, and fiscal councils. We also suggest that the Federal Reserve be open to lending directly to states during fiscal crises to ensure that states have access to affordable credit.Originality/value The balanced budget norm has become ingrained in U.S. state budgeting practices, so much so that public officials and scholars alike rarely question it. The novel contribution of our article is to question this practice in a systematic way and propose alternative approaches.

Avoiding Illegal Land Registry using Blockchain

The Land Registry system is an essential department for any government system, who maintains the crucial information about the land like ownership, transaction history and many more. There are various escape clauses in existing framework that raise the possibilities of misdirection and questions. To resolve this issue, we have accompanied an answer of carrying out blockchain in the land vault framework. A safe stage for land library framework utilizing Blockchain has been anticipated. Blockchain here is utilized as partner electronic record of computerized records and exchanges that are scrambled utilizing cryptography[1]. This framework targets concocting a model for secure and consistent land enlistment framework upheld blockchain innovation, which can make simple to dispose of the provisos in the ongoing area vault framework. Our framework gives one-of-a-kind character to each land, enlisted and checked for the land proprietor which can't be altered or repeated in this way, this gives secure exchanging of land. The land proprietor will be furnished with the ID when the land is enrolled in our framework and will be moved to the next client once he sells his territory. So, nobody can imitate as other client and there will no opportunities for deceitful or trick

Evaluation of Some Problems Related to The Escape Clause in Joint Stock Companies Law

Anonim şirketlerde, kural olarak, pay sahibinin payını serbestçe devredebilmesi ilkesi geçerlidir. Bu ilkenin varlığının birden fazla sebebi bulunmaktadır. Anonim şirketlerde, çıkma ve çıkarılmanın olmaması ve pay sahiplerinin kişiliklerinin önem taşımaması bu ilkenin temel gerekçeleridir. Ülke içindeki küçük birikimleri yatırıma dönüştürme amacına hizmet etmesi düşünülen anonim şirketlerin bu amacını yerine getirebilmesi için de yatırımcının istediği zaman payını kolayca nakde çevirebilmesi gerekmektedir. Aksi hâlde anonim şirket pay sahibi olmak, güvenli ve işlevsel bir yatırım aracı olmaktan çıkacaktır. Ancak bu ilke nama yazılı olan pay ve pay senetleri açısından kanun koyucu tarafından sınırlandırılmıştır. Doktrinde bu sınırlandırmalara “bağlam” denilmekte olup sınırlamalar, kanuni bağlam ve esas sözleşmesel bağlam olarak ikiye ayrılmaktadır. Kanun koyucu, “Esas Sözleşmeyle Sınırlama” yan başlığı altında Türk Ticaret Kanunu m. 492 vd. borsaya kote olmayan nama yazılı pay ve pay senetlerinin devrinin sınırlandırılmasını düzenlemiştir. Bu sınırlamalardan ilki, esas sözleşmede öngörülen önemli sebebin ileri sürülmesidir. İkinci sınırlandırma, kaçış klozuna başvurulmasıdır. Üçüncüsü ise pay ve pay senetlerinin, kendi ad ve hesabına alındığının beyan edilmemesi sebebiyle pay devrinin sınırlandırılmasıdır. Kaçış klozu, şirketin devredilecek olan nama yazılı payların veya pay senetlerinin gerçek değerini ödemek suretiyle şirketin istemediği yeni pay sahiplerini saf dışı bırakan ve yabancılaşmayı önleyen bir kurumdur. Ancak kaçış klozuna ilişkin maddelerde geçen ifadelerle kanun koyucunun amacı bazen çelişmekte, bazen de amacı anlaşılamayıp yorum yapılması gerekmektedir. Bu sebeple bazı tartışmalar ortaya çıkabilmektedir. Çalışmada bu tartışmalı hususlar gerek kanunun lafzı gerekse kanun koyucunun amacından faydalanılmak suretiyle irdelenmeye çalışılmıştır.

The WTO Condemns Trump’s Tariffs on Steel and Aluminium, but Biden Condemns the WTO

Recently World Trade Organization (WTO) panels declared the illegitimacy of the tariff increases imposed in 2018 by the US government, based on national security grounds, on imports of steel and aluminium products. This paper addresses some of the key legal issues raised in the four controversial panel decisions, leaving some final reflections on the future of multilateral trade system. Given the unsettled nature of the terrain, we firstly focus on the WTO rules that are relevant to the tariffs imposed by Trump in 2018, before dwelling on the complainants’ arguments and panels’ findings. Two indications or conclusion can be drawn from the paper. First, the General Agreement on Tariffs and Trade (GATT) Article XXI doesn’t constitute a self-judging or non-justiciable provision, differently from what argued by the US Government. Second, the controversial reports will not resolve the ongoing conflict initiated by US against the WTO. In fact Biden, far from distancing himself from Trump’s measures, openly condemned the panel’s decisions through an official statement widely disseminated by the media. The practical significance of the recent condemnation of the US tariffs is even less evident when considering the persistent issue of the appointment of members to the WTO Appellate Body. If multilateralism continues to falter, the US may no longer be the only country winking at bilateralism, as evidenced by the recent rules adopted by the EU. Security Exceptions, Dispute Settlement Understanding, Antidumping Duties, WTO, international economics, European Union, GATT, escape clauses, multilateral trade system

How credible is average and symmetric inflation targeting in an episode of high inflation?

This article examines the risks and societal costs associated with flexible average inflation targeting in the United States and symmetric inflation targeting in the Eurozone. Employing an empirical approach, we analyze monthly cumulative inflation gaps over a monetary policy horizon of 36 months. By investigating the trajectories of the cumulative inflation gaps, we find a heavy tailed distribution and a 20 percent probability of over- and undershooting the inflation target. We exhibit that the offsetting mechanism introduced in the revised monetary strategies lack credibility in ensuring price stability during a period of persistent inflation. Consequently, the credibility of central banks may be compromised. The policy implications are the integration of an escape clause and prompt monetary corrections in cases where the inflation goal is not achieved. This study provides insights for policymakers and central banks, emphasizing challenges in maintaining credibility and price stability within the new monetary strategies.

El Semestre Europeo 2023 y el Mecanismo de Recuperación y Resiliencia

Rationale Since 2020, the European Semester has been immersed in a large-scale restructuring process, to adapt to an environment in constant change. At the same time, it has continued to adapt to the implementation of the Recovery and Resilience Facility. Moreover, in 2024, coinciding with the deactivation of the general escape clause of the Stability and Growth Pact, a new fiscal governance framework will have to be adopted, which will continue to be integrated in the European Semester. Takeaways •The main new feature in the current cycle is the European Commission’s legislative proposal for reform of the European Union’s fiscal rules, which should pave the way for the adoption of a new fiscal governance framework integrated in the European Semester. •To facilitate the transition towards the future fiscal rules and to take into account the present challenges, some elements of the proposal have been incorporated into the current fiscal surveillance cycle, via country-specific recommendations. •The recommendations for Spain for 2024 include a quantitative requirement that limits nationally financed nominal primary expenditure to 2.6%, as well as qualitative guidance on investment and energy measures.

Safeguard Measures on Imports of Solar Cells and Modules

Within the context of the escape clause concept in international trade law, this articleanalyses the trade safeguard measures that the United States of America has enacted onimports of crystalline silicon photovoltaic (CSPV) cells and modules. An examination of thereasoning behind the United States’ decision to adopt these controls by Section 201 of theTrade Act of 1974 is presented in this article. The study highlights the detrimental effects ofincreased imports and trade on the domestic solar industry. The purpose of this study is todetermine whether or not these measures are by the conditions that are described in theescape clauses of the General Agreement on Tariffs and Trade (GATT) and the Agreementon Safeguards.

Kant and the king: Lying promises, conventional implicature, and hypocrisy

AbstractImmanuel Kant promised, ‘as Your Majesty's loyal subject’, to abstain from all public lectures about religion. All past commentators agree this phrase permitted Kant to return to the topic after the King died. But it is not part of the ‘at‐issue content’. Consequently, ‘as Your Majesty's loyal subject’ is no more an escape clause than the corresponding phrase in ‘I guarantee, as your devoted fan, that these guitar strings will not break’. Just as the guarantee stands regardless of whether the guarantor ceases to be your devoted fan, the compliance conditions of Kant's promise are not affected by Kant's ceasing to be the king's loyal subject. For good or ill, Kant made a lying promise to King Friedrich Wilhelm II in 1794.

INSTITUTIONALIZATION OF FISCAL RULES: INTERNATIONAL AND RUSSIAN EXPERIENCE

Economic instability forces governments to urgently support businesses and the public at the expense of budgetary imbalances. Such circumstances test flexibility of fiscal rules - restrictions on the main budget parameters. They are often suspended, the limit values of their indicators are adjusted, temporary concessions for their use are introduced. Both the introduction of such instrument and its sustainability over time depend primarily on thegovernment and policymakers. At the same time world experience proves that budget restrictions supported by the authorities need a complementing system of adaptation and controlling conditions allowing for a better adaptation to economic challenges and following their original task - to ensure medium-term budget balance while maintaining a conditionally constant level of budget expenditures. The subject in the paper is the institutional conditions for fiscal rules’ functioning. The purpose of the study is to identify the institutional framework used to ensure proper performance of fiscal rules and assess its practical applicability in Russia. Using the methods of descriptive statistical and comparative analysis of international and Russian practice in applying fiscal rules, the authors identify and analyze the list of such institutional conditions as medium-term expenditure frameworks, fiscal councils, correction mechanisms, escape clauses. The results of the study consist in formulated required and sufficient institutional framework for effective fiscal rules. Due to the use of only medium-term budget planning in Russia the remaining three may serve as a guideline for implementing budget restrictions during the current reform .

Government debt: the impact of fiscal rules at the European and national level

As Europe and the world surface from the pandemic of 2020–2021, public debt levels have risen substantially, the review of the European Union (EU) economic governance framework is underway and the general escape clause of the stability and growth pact (SGP) is planned to be deactivated at the end of 2023. Against this background, it is important to better understand the dynamics of public debt in the EU. This paper studies how European institutions and sectoral national fiscal rules have affected the formation of public debt. The results suggest that over the last 25 years, the SGP has been an effective tool for lowering government debt levels, at least on average. The establishment of the SGP has been the most effective at lowering government debt, while reforms of the SGP have only had limited effects. The effects of national fiscal rules are heterogenous across different rules and public sector classifications, but it seems that national fiscal rules have at least some effects beyond the SGP in all studied cases. This implies that the EU fiscal framework and EU-level fiscal policies should take into account potential interactions with national fiscal rules and both can be used to increase the effectiveness of fiscal policymaking.

Оновлення системи фіскальних правил в Європейському Союзі та перспективні напрями їх реформування в Україні

Introduction. In 2022 and 2023 fiscal rules in Ukraine were suspended by amendments to the Budget Code, although after the end of war the negotiation process with the EU on its enlargement will put the issue of resumption of the fiscal rules in Ukraine and their alignment with the EU norms on the economic reforms’ agenda in Ukraine. Problem Statement. Restoration of the system of fiscal rules in Ukraine and its new substantive filling on the way of Ukraine’s preparation for the EU accession taking into account the experience of implementation of the supra-national fiscal rules in the EU and challenges for the reforms of the budgetary framework in the EU member states. Purpose – drawing lessons of functioning of the numerical fiscal rules in the EU, reviewing the components of transformation of the budgetary framework and mechanisms of the fiscal policy surveillance from the side of the EU supra-national bodies and eventually, on their basis, specifying the core directions of reforming fiscal rules in Ukraine for their approximation to the EU standards. Methods. General scientific and special methods are applied: analysis and synthesis, description and comparison, historical method, method of theoretical generalization and abstract-logical method. Results. The article highlights the essence of fiscal rules as important constituents of modern fiscal institutions, shows the quantitative indicators of extension of the fiscal rules across the world and their common combinations. It reveals the main trends in modification of the fiscal rules and validation of the escape clauses in the course of corona-crisis. The author summarizes the mechanisms of budget deficit regulation, containment of public expenditure growth and limiting public debt level in the EU member states with a focus on the provisions of the Stability and Growth Pact and of the EU Regulations, which specify the tools of application of the Pact and Treaty on the Functioning of the European Union. The author synthetizes the key dimensions of current transformation of the EU fiscal rules with an emphasize on the instruments of fiscal policy surveillance in the EU member states and targeting fiscal policy at achieving green and digital transition by their economies with simultaneous debt sustainability goal. Policy proposals are devised for upgrading the system of fiscal rules in Ukraine and their validation after finishing the war. Conclusions. Incorporation of debt limit and budget balance ceiling across the sector of general government into the budgetary legislation of Ukraine, as well as of net primary expenditure rule aimed at restoration of the debt sustainability, as well as mechanisms of implementation of the fiscal rules and independent monitoring of the fiscal rules observance in line with the EU standards (over the medium run) would contribute to securing macro-financial stability in Ukraine and accelerate the economic and political integration of Ukraine with the EU.

The closest connection principle as escape clause for contractual legal relations of international character

The article contains analysis of escape clause stipulated by Art. 1211-9 of the Civil Code of the Russian Federation and allowing the court, when choosing applicable law for contract, in exceptional cases to reject the conflict of laws rule prescribed by law in favor of the law which is obviously more connected to contract. The author conducts a case by case analysis of Russian judicial practice, including judicial acts in which application of escape clause is extensively substantiated and those in which such application is based on the sole counter-directed link of contract or is barely substantiated. Moreover, the examples of disaffirmation of judicial acts which have been based on unjustified application of Art. 1211-9 of the Civil Code of the Russian Federation as well as cases of illustrative utilization of the indicated provision are under analysis. The author pays special attention to the standard (criteria) of the closest connection principle applied under the auspices of escape clause for contractual legal relations of international character. The author stands for thesis that the court recourse to escape clause of Art. 1211-9 of the Civil Code of the Russian Federation as an exceptional case requires ‘comparative weighing’ of differently directed links of the exact contract culminating in clear conclusion on sum of significant links to the law of other country in contrast to insignificant link to the law of country indicated by conflict of laws rule. At the same time, indicators (criteria) of the closest connection, stemming from unity of its contents even for different functions within conflict of laws framework, should embrace not only territorial contacts of the exact contractual legal relation but also important substantive law considerations (including lex validates acknowledged by the Supreme Court of the Russian Federation).

CHARACTERISATION AND CHOICE OF LAW FOR KNOWING RECEIPT

AbstractKnowing receipt requires the satisfaction of disparate elements under English domestic law. Its characterisation under domestic law is also unsettled. These in turn affect the issues of characterisation and choice of law at the private international law level, as knowing receipt sits at the intersection of the laws of equity, restitution, wrongs and property. This article argues that under the common law knowing receipt ought to be considered as sui generis for choice of law purposes and governed by the law of closest connection to the claim. Where the Rome II Regulation applies, knowing receipt fits better within the tort rather than unjust enrichment category and the escape clause in Article 4(3) of the Regulation ought to apply.

Održivost fiskalnog okvira i privredni rast u Srbiji

In the last three years, Serbia led a very expansionary fiscal policy, with a fiscal deficit higher than the average of the countries of Central and Eastern Europe (CEE) 1 and the Western Balkans 2 . This led to a significant rise in public debt in absolute terms, while public debt-to-GDP ratio increased only slightly, due to the currency structure of debt, the unchanged exchange rate of the dinar against the Euro, and high inflation. At the end of 2022, Serbia was the European median in terms of public debt, although the debt was above the average of comparable CEE countries. Despite the moderate level of debt, public interest expenditures and the effective interest rate on Serbia's public debt are relatively high in European terms, which is a consequence of the fact that financial markets in less developed countries see the limit of sustainability of public finances at a lower level of indebtedness than in developed countries. Tightening of monetary policy in the world will trigger the further increase of government spending on interest, which may crowd-out more productive public expenditures or narrow the room for tax cuts, which is why it is especially important to keep the public debt at a lower level in the coming period. At the end of 2022, Serbia implemented a fundamental reform of fiscal rules. The advantage of the new fiscal rules is reflected in a lower deficit target and a more detailed elaboration of the government's response mechanisms to violations of the rules. Raising the public debt ceiling to the upper limit of the prohibitive zone, the elimination of countercyclical elements in the deficit rule and the absence of clear escape clauses for periods of crisis may pose a limitation. The new fiscal rules could contribute to the sustainability of Serbia's fiscal policy, provided that their consistent and continuous application is ensured.

Sustainable Fiscal Policy in India: Post-Pandemic Challenges


 The burgeoning fiscal deficit and debt sustainability in India have been a matter of concern for a long time. The levels of deficit and debt in India have been much higher than the levels seen in emerging economies. The Coronavirus Pandemic has brought the issue to the fore once again. The Russian invasion of Ukraine and the consequent sanctions have only worsened the situation. The attempts to control them by implementing rule-based fiscal policy, like in most other countries, have not been successful. The numerical targets on deficit and debt recommended by successive Finance Commissions and taken in FRBM Acts have been observed in their breach rather than compliance. The targets have been repeatedly revised and suspended, escape clauses have been invoked, and compliance, when shown, is done through creative accounting. To impart greater effectiveness to fiscal management, the paper argues for reforms in budget management and the creation of an independent institution to monitor the implementation of rule-based fiscal policy – the Fiscal Council as recommended by the Finance Commissions.

Phylogenetic diversity only weakly mitigates climate-change-driven biodiversity loss in insect communities.

To help address the underrepresentation of arthropods and Asian biodiversity from climate-change assessments, we carried out year-long, weekly sampling campaigns with Malaise traps at different elevations and latitudes in Gaoligongshan National Park in southwestern China. From these 623 samples, we barcoded 10,524 beetles and compared scenarios of climate-change-induced biodiversity loss, by designating seasonal, elevational, and latitudinal subsets of beetles as communities that plausibly could go extinct as a group, which we call "loss sets". The availability of a published mitochondrial-genome-based phylogeny of the Coleoptera allowed us to compare the loss of species diversity with and without accounting for phylogenetic relatedness. We hypothesised that phylogenetic relatedness would mitigate extinction, since the extinction of any loss set would result in the disappearance of all its species but only part of its evolutionary history, which is still extant in the remaining loss sets. We found different patterns of community clustering by season and latitude, depending on whether phylogenetic information was incorporated. However, accounting for phylogeny only slightly mitigated the amount of biodiversity loss under climate change scenarios, against our expectations: there is no phylogenetic "escape clause" for biodiversity conservation. We achieve the same results whether phylogenetic information was derived from the mitogenome phylogeny or from a de novo barcode-gene tree. We encourage interested researchers to use this data set to study lineage-specific community assembly patterns in conjunction with life-history traits and environmental covariates.

Managing health supply chain using blockchain technology: state of art challenges and solution

The COVID-19 flare-up in late 2019 caused a worldwide medical crisis. In a littlemore than a quarter of a year, the quantity of COVID new cases has risen to in excessof 1,000,000 around the world.The fast transmission of the infection prompts newcases to be accounted for all around the world constantly. At the same time, mortalityrate and contaminations keep on rising rapidly. Therefore, the COVID-19 pandemichas led to the implementation of lockdowns and social distancing rules that negativelyimpact global economies. It has upturned many challenges which are mentioned inthis paper,we proposed a solution to these major problems, blockchain technology canplay a vital role in closing maximum escape clauses in the present system to improvevisibility and traceability and to provide a clear far vision for the stakeholders presentin pharmaceutical industry.

Discussing EU Policies and Mechanisms towards the COVID-19 Pandemic Crisis: A Case Study of Greece

This paper discusses the effectiveness of EU economic measures towards the pandemic crisis in the case of Greece. As the pandemic crisis was an exogenous and symmetric crisis, EU member states decided to take supply and demand side measures to tackle economic recession. Not only the Recovery plan for Europe (NGEU), but also the Escape Clause, as well as non-standard monetary measures, were implemented in order to achieve growth. Furthermore, fiscal expansion, as well as common debt extraction, using green and social bonds led to higher government spending and sovereign debt. The paper’s research question is “Could fiscal expansion mitigate the economic consequences of pandemic crisis?” In other worlds, the research gap which this paper tries to fill is that for the contemporary EU response to two different crises, the economic and the pandemic. Our analysis, by using a comparative approach, shows that government spending and fiscal expansion is effective in the short-run, as the temporary measures led to higher GDP growth rates and lower unemployment rates, but in the long-run demand side measures led to higher inflation and higher sovereign debt.