Academic literature on the topic 'Directive principle'

This article pays tribute to Professor Mads Andenas’s scholarly contribution to European banking law and regulation. The article addresses how EU banking law under the Capital Requirements Directive IV regulates private shareholder rights regarding their governance or control rights over banking corporations and the extent to which public law regulatory powers are constrained by EU constitutional law regarding the application of administrative sanctions on EU banks or bank shareholders who violate CRD IV governance principles and rules. The analysis will focus on the CRD IV’s sound and prudent governance principle and related regulatory technical standards adopted by the European Banking Authority. It will also analyse the extent to which EU administrative or regulatory sanctions can be applied to banks for violating the sound and prudent governance principle and related regulatory standards and how the principle of proportionality could apply to the exercise of such regulatory powers. The article builds on the fascinating body of work of Professor Andenas in analyzing EU banking law and the extent to which EU member state supervisory authorities are constrained by fundamental EU legal principles in imposing sanctions on banks for violating applicable law and regulatory rules.

The paper analyzes the key supranational public procurement instruments adopted within the framework of the West African economic and monetary Union, especially the legally binding directives (Directive 04/2005 on the award, performance and payment of public contracts and Directive 05/2005 on the control and regulation of public procurement), which require further implementation into the national legislation of the member states. Special attention is given to the documents that, although they are advisory in nature or only indirectly affect the issue under study, but have had a significant impact on the formation of directives — the Regional program for improving the efficiency of public procurement and the UEMOA Code on transparency in public finance management. The principles of legal regulation of public procurement in the UEMOA are revealed: the principle of cost — effectiveness and efficiency of procurement; the principle of free access to the public procurement market; the principle of equal treatment of candidates and mutual recognition; the principle of transparency, rationality, modernity of procurement procedures and the possibility of tracking them; the principle of non-discrimination on the basis of nationality in relation to enterprises of the UEMOA member states and the principle of non-violation of competition when transferring a state contract to subcontracting; de minimis principle. A brief description of the procedures for awarding public contracts established in this organization, namely tender (there are several varieties of tender, the main of which are open and closed) and procurement from a single supplier. Some aspects of the legal regulation of public procurement in UEMOA are compared with other integration associations, in particular with the European Union and the Common market of South America (MERCOSUR).

Soon Member States will bring into force the laws, regulations and administrative provisions necessary to comply with the Damages Directive (2014/104/EU). Usually Member States do not seem willing to introduce a broader scope of the application of principles embodied in EU directives. For Member States, “copy-pasting” a directive's content into a piece of national legislation is one of the simplest ways to implement a directive (another very simple one is implementation by reference; it is just referring the reader to the directive and should not be applied where the rules in a directive are not sufficiently precise, so it is not applied very often). Member States that work on the implementation of the Damages Directive either do it in a minimalist manner, mainly "copy-pasting" its content, or take the legislative opportunity to do something more and "tidy up" domestic provisions on the occasion of the transposition of the Directive. Some Member States have chosen that last option. The article attempts to highlight some of the considerations that may be of particular relevance in this process, with the aim of formulating some recommendations for national legislatures, even though implementation works are drawing to a dose. First, some “spontaneous harmonisation” of a scope broader than that provided for in the Directive is recommended on the background of the material (substantive) scope of the Directive and its transposition. The other important considerations are addressed to the personal scope of the Directive and its transposition. Finally, the short review of some more detailed issues for decision on the occasion of the transposition of the Directive is offered. Considerations regarding the principle of civil liability, the use of collective redress mechanisms, minimum harmonisation clauses, institutional design of private enforcement of competition law, as well as incentives to voluntarily provide compensation to injured parties can be found therein.

Abstract. Whenever there is a conflict between a provision of national law and a rule of a Community directive in a dispute between two private parties, the question arises which law must prevail. Generally speaking, EC directives can have an impact on domestic law under either the doctrine of direct effect or the duty imposed on national courts to construe their domestic law in conformity with the directive. Under current EC case law, it is not possible for one individual to rely on a directly effective provision of a directive as against another private party: there is no horizontal direct effect. However, directives may nevertheless have a decisive impact on the outcome of the dispute through this canon of interpretation: indirect effect. This article reviews ten years of judicial development of the principle of indirect effect. In particular it examines the relationship between direct and indirect effect, the relevance or not of expiry of the period for transposition of the directive into domestic law and the discretion of the national courts to construe their own laws under the requirements of Community law. Schlüsselwörter: - Europtiisches Gemeinschaftsrecht –Einwirkung von Gemeinschaftscrecht auf Privatrecht – horizontaler direkter Effekt – Verpflichtung, wirkung nationales Recht in Übereinstimmung mit dem Gemeinschaftsrecht auszulegen Zusammenfassung. Wo immer in einem Rechtsstreit zwischen zwei Parteien ein Konflikt zwischen einer nationalen Vorschrift und der Regelung einer Gemeinschaftsrichtlinie auftritt, stellt sich die Frage, welches Recht vorrangig ist. Allgemeiner ausgedrückt, Richtlinien der europäischen Gemeinschaft können sich auf nationales Recht entweder aufgrund eines direkten Effektes oder im Rahmen der den nationalen Gerichten auferlegten Verpflichtung auswirken, ihr eigenes Recht in Übereinstimmung mit der Richtlinie auszulegen. Nach gegenwärtigem Gemeinschaftsfallrecht ist es für eine Individualperson nicht möglich, sich auf eine direkte Rechtswirkung einer Richtlinie wie gegenüber einer anderen Privatpartei zu verlassen: es gibt keine horizontale direkte Auswirkung. Gleichwohl haben Direktiven durch eine andere Auslegungsmethode nichtsdestoweniger eine entscheidende Bedeutung in Bezug auf das Ergebnis des Streits: Indirekte Auswirkung. Dieser Beitrag betrachtet zehn Jahre juristische Entwicklung des Prinzips der indirekten Auswirkung. Insbesondere werden die Beziehungen zwischen direkter und indirekter Auswirkung, die Relevanz (oder Nicht-Relevanz) des Ablaufs des Zeitraums der Umsetzung der Richtlinie in natinales Recht und die Diskretion natinaler Gerichte untersucht, ihr eigenes Recht unter Berücksichtigung der Forderungen des Gemeinschaftsrechts auszulegen.

On 19 January 2010 the European Court of Justice (ECJ) was asked to rule on the application and scope of the general principle of non-discrimination under Community law. In Kücükdeveci the Court had the opportunity to clarify a number of questions concerning the principle of non-discrimination and the application of Directive 2000/78 that had remained unanswered after the famous Mangold judgment and subsequent case law. The case was particularly apt to clarify the scope of Mangold, as it concerned a similar factual situation, albeit after the implementation period of Directive 2000/78 had expired. Consequently, many issues addressed in that judgment arose anew. The Court had to deal with the relationship between Directive 2000/78 and the general principle of non-discrimination on the grounds of age, the possibility of justifying differential treatment on the basis of national social and employment policies, the extent of the doctrine of indirect effect, and the direct horizontal effect of directives.

The article aims to delve into the nuanced interpretation of the principle of good faith within the domain of unfair terms prevalent in consumer contracts. This principle has proven pivotal in appraising the fairness of terms, serving as a benchmark. Its multifaceted application across legal domains necessitates a precise explication of its contextual significance. Emphasizing the imperative to delineate the exact connotation of the good faith principle in the judicial realm of consumer safeguarding, the article subsequently elucidates this proposition through a meticulous analysis of the Directive and its corresponding legal cases. However, the initial analysis underscores the Directives somewhat ambiguous delineation of the good faith principle. This prompts an inquiry into whether such ambiguity hampers the comprehensive evolution of this principle within the broader context of EU private law. Consequently, the subsequent discourse endeavors to rationalize this aspect within a redefined comprehension of the jurisprudential underpinning of the Directive.

Abstract Chapter II of the European Pillar of Social Rights envisages fair working conditions that are further spelled out in two principles on secure and adaptable employment (Principle 5) and information about employment conditions and protection in dismissals (Principle 7). In order to deliver on this framework, in December 2017 the European Commission presented an ambitious and far-reaching proposal for a Directive on transparent and predictable working conditions in the European Union that would repeal Directive 91/533/EC on an employer’s obligation to inform employees of the conditions applicable to the contract or employment relationship. The proposal, after a series of uneasy negotiations in the Parliament and the Council, and with substantial modifications, was subsequently adopted in June 2019. Against this background, the main aim of this note is to analyse the new Directive (EU) 2019/1152. This piece focuses firstly on the Directive’s nuanced hybrid personal ambit of application. Secondly, it examines its material scope of application and sheds some light on the new set of rights and entitlements available to workers, including novel enforcement mechanisms. Finally, the note provides a critical assessment of the Directive with the aim of unveiling its potential to boost workers’ rights in the European Union, in particular those engaged in non-standard forms of employment, who are especially prone to experiencing precarious working conditions, such as on-demand and platform workers.

The Seasonal Workers Directive, harmonising Member States’ laws regarding the entry, residence and certain labour rights of seasonal workers, entered into force in 2014 and should be implemented by Member States (except for the UK, Ireland and Denmark) by 30 September 2016. According to Article 23 of the Directive, in principle, third-country nationals coming to a Member State as seasonal workers are entitled to equal treatment with nationals of the host Member State. However, what does ‘equal treatment’ mean when there are almost no nationals doing seasonal work for comparison? Also, the Directive allows Member States to diverge from the principle with regard to family and unemployment benefits and education and vocational training. Furthermore, the Directive does not provide for family reunification, even though seasonal workers are allowed to work for periods of up to nine months per year in the host Member State. Considering the limitations to the principle of equal treatment, and the broad measure of discretion given to the Member States in the implementation of the Directive, can the Directive really improve the precarious position of seasonal workers? What is to be expected of the effectiveness of the Directive? Could the Directive also be attractive for application by countries (inside the EU or outside) that are not bound by the Directive? This article will try to answer these questions by critically analysing the Directive, setting it in historical perspective and comparing it other EU legal instruments on labour migration, focusing particularly on the content of a select number of rights. The article furthermore discusses the issue of gender equality in the (effects of the) EU regulation of labour migration. It finally also addresses the question of the attractiveness of the Directive for adoption by States that are not bound by it, in particular Switzerland, where the seasonal worker has remained a hot topic after officially having ‘disappeared’ from the radar in 2002.

The Main Principles of State Policy (PPHN) is an idea as an answer to the problems of Indonesia development wich caused by the ineffectiveness of the Development Planning System (SPPN) as a directive principles of state policy. This article attemps to answer two academic questions, first how the compatible concept of the Main Principle of the state policy with the Indonesia constitutional structure, and the second is wich approriate legal instrument for the Main Principle of the State Policy. The result of this research in this article describe that PPHN as the new directive principle of state policies must be able to answer the problem that contained by the Development Planning System; to ensure the implementation of sustainable development, PPHN must have juridical power by being regulated through statutory instrument; and PPHN must built within framework of presidential government system and regional autonomy. In addition constitution is the most suitable choice as an instrument for PPHN.

Plus de quarante ans après que la Cour de justice ait levé à travers l'arrêt Van Duyn l'incapacité des directives à revêtir un caractère directement applicable, la question de leur invocabilité ou de leur effet juridique au sein des ordres juridiques nationaux reste un point sensible en termes de débats doctrinaux et de controverses constantes au sein même de la Cour de justice. De fait, en décloisonnant la régulation de l'intensité normative de l'effet immédiat des directives et, plus généralement, celle du droit dérivé obligatoire de l'orthodoxie de l'article 288 TFUE, la Cour de justice a bouleversé l'équilibre normatif qui en découlait. Or, face à l'enjeu déterminant que revêt l'invocabilité des directives sous l'angle de la répartition des compétences, la défiance exprimée par certaines cours constitutionnelles à l'adresse de la Cour de justice, a conduit le juge de Luxembourg à reconsidérer sa position. Ainsi, dès 1979, associera-t-il à ce décloisonnement un processus de recomposition de la cristallisation de l'équilibre normatif initialement tranché par l'article 288 TFUE. Par ce processus de recomposition, d'une part, il ajustera sous forme de limitation l'étendue de l'applicabilité directe subjective de substitution des directives et, d'autre part, il réajustera sous forme de restriction l'étendue de leur applicabilité directe objective d'exclusion. De ce dispositif il ressort la rupture de l'unité profonde de l'ordre juridique de l'Union dont l'origine tient à la dérégulation de l'invocabilité objective d'exclusion des directives causant d'une part, par le morcellement de ses conditions d'application l'étiolement de la justiciabilité objective d'exclusion du droit de l'Union et d'autre part, par l'éclatement de son fondement la déstructuration de la justiciabilité objective d'exclusion du droit de l'Union. Aussi, aux fins de recouvrer une rationalité d'ensemble, apparaît-il raisonnable de resituer l'invocabilité objective d'exclusion des directives dans la logique issue de l'arrêt Verbond nederlandse ondernemingen (VNO)
More than forty years after the Court of Justice, through the Van Duyn judgment, lifted the inability of directives to have a directly applicable character, the question of their invocability or their legal effect within national legal orders remains a point sensitive in terms of doctrinal debates and constant controversies within the Court of Justice. In fact, by decompartmentalizing the regulation of the normative intensity of the immediate effect of directives and, more generally, that of the com-pulsory secondary law of the orthodoxy of Article 288 TFEU, the Court of Justice has upset the normative ba-lance that ensued. However, faced with the decisive issue involved in the invocation of directives from the point of view of the distribution of powers, the mistrust expressed by certain constitutional courts to address the Court of Justice, led the Luxembourg judge to reconsider his posi-tion. Thus, from 1979, he will associate with this decompartmentalization a process of recomposition of the crystallization of the normative equilibrium initially decided by article 288 TFEU. By this process of recom-position, on the one hand, he will adjust in the form of limitation the extent of the subjective direct applicability of substitution for directives and, on the other hand, he will readjust in the form of restriction the extent of their direct applicability exclusionary objective. From this device, it emerges the rupture of the deep unity of the legal order of the Union, the origin of which derives from the deregulation of the objective invocability of exclusion of directives causing on the one hand, by the fragmentation of its conditions for application the etiolation of the objective justiciability of exclusion from Union law and on the other hand, by the bursting of its foundation the destructuring of objective justiciability of exclusion from Union law. Therefore, in order to recover an overall rationality, it seems reasonable to place the objective invocability of exclusion of directives in the logic resulting from the judgment Verbond nederlandse ondernemingen (VNO)

The master thesis deals with the issue of transfer price of a controlled transaction between associated enterprises. Part of the master thesis is definition of basic theoretical concepts associated with the issue of transfer pricing with a focus on domestic, international, and European Union law. The master thesis deals with the analysis of case law, whose subject matter is transfer pricing. The theoretical starting points of the thesis are applied to a practical example, which deals with the issue of determining the transfer price for specific controlled transaction between associated enterprises.

This paper tries to answer the question related to the implementation of one of Europe's most influential EU-directives, the Water Framework Directive. The Directive requires Member States to achieve good ecological potential and good surface water chemical status for bodies of water until year 2015. If the states cannot achieve those objectives within this period, then there may be grounds for exemptions from the requirement to prevent further deterioration of to achieve good status under specific conditions. One of those conditions could be that, the completing the improvements within the timescale would be disproportionately expensive. Question which is examined in this paper is, what criteria would be most appropriate for determining the disproportionate costs. Based on the review of most WFD-related studies and EU legislation are selected criteria, which should be used for the assessment of the disproportionate costs.

En medlemsstat inom Europeiska Unionen (EU) ska anpassa de nationella bestämmelserna för att möta de EU-rättsliga bestämmelserna. Ett exempel på en sådan reglering är mervärdesskatten. Syftet med regleringen av mervärdesskatten har varit att skapa och stimulera en inre marknad inom EU, utan skillnader mellan medlemsländerna. Mervärdesskatten har harmoniserats genom mervärdesskattedirektivet som medlemsstaternas är förpliktigade att implementera. Implementering av ett direktiv ger medlemsstaterna möjligheten att själva tolka och avgöra tillvägagångssättet, så länge direktivets syfte uppnås. Dock har flertalet talan om fördragsbrott uppkommit i Europeiska Unionens domstol, grundat på kommissionens åsikt om att medlemsstater har underlåtit att uppfylla sina skyldigheter enligt mervärdesskattedirektivet. Därav uppkommer frågan hur den konstitutionella grunden för EU ger medlemsstaterna eget handlingsutrymme att tolka och implementera bestämmelserna i mervärdesskattedirektivet utifrån EU:s fördrag, rättspraxis och principerna om neutralitet, legalitet, likabehandling och lojalitet. Rättspraxis behandlar områdena för mervärdesskattegrupper och reducerade skattesatser. Det kan konstateras att medlemsstaterna har ett begränsat handlingsutrymme för implementering av mervärdesskattedirektivets bestämmelser. EU:s fördrag, principer och praxis ger inte medlemsstaterna något större utrymme att själva tolka och implementera bestämmelserna. Vidare framgår att det finns en osäkerhet kring tillämpningsområdet och vidden av neutralitetsprincipen, vilket gör att medlemsstaterna inte kan försäkra sig ett större skydd mot fördragsbrott i frågan om implementering av mervärdesskattedirektivet. Därmed finns en rättsosäkerhet i frågan om medlemsstaternas handlingsutrymme gällande implementeringen av mervärdesskattedirektivet bestämmelser vilket även påverkar varje enskild medborgare inom EU.
As a member of the European Union (EU), nations commit to accommodate its national legislation to EU law. An example of this is the regulation of value added tax (VAT). The purpose with the regulation of VAT is to create and stimulate the internal market within EU, without differences between the member states. The VAT is harmonized through the VAT Directive, which every member state is obligated to comply with. The implementation of a directive imposes an opportunity for the member states to make their own interpretations and determine how the implementation shall be handled, as long as the result of the directive is fulfilled. However, several claims have been raised in the Court of Justice of the European Union, claiming failure to fulfil an obligation under the Directive on the common system of VAT. This is based on the Commission’s view that member states do not comply with its obligations within the VAT Directive. Thereby arises the question of; how the constitutional rights of EU actually gives the member states an opportunity to interpret the implementation of the VAT Directive into national legislation. In the thesis this question is set in relation to EU Treaties, legal principals and an analysis of case law in the areas of VAT groups and reduced tax rates. The thesis concludes that the member states have a limited discretion for implementation of the VAT Directive. EU Treaties, principles and case law do not give the area of discretion that has been interpreted. Furthermore there is an uncertainty about the area of application and the principle of neutrality. Therefore member states cannot ensure protection against failure to fulfil an obligation under the Directive on the common system of VAT. Thus, there is a legal uncertainty in the question of discretion regarding the implementation of the VAT Directive, which affects all citizens within the EU.

Master thesis deals with the issue of international taxation of transfer prices between related parties. Diploma thesis defines the basic theoretical concepts of transfer pricing with a focus on international and domestic law. The analytical part of the thesis is devoted to the analysis of the case law, the subject of which is transfer pricing. The practical part is based on acquired knowledge to elaborate a methodological tool to transfer pricing. The present findings are applied to a model example.

As relações de trabalho são formadas por dois sujeitos, de um lado o empregador, que através do poder diretivo tem o poder de dirigir, organizar, fiscalizar a prestação do serviço do empregado; de outro, o empregado, subordinado juridicamente ao empregador. No entanto, o poder diretivo do empregador não é absoluto, mas sim é limitado pela presença dos direitos fundamentais do empregado (e.g. direito fundamental à intimidade, a vida privada, à não-discriminação), que possuem eficácia na esfera das relações de trabalho. Assim, o estudo tem por objeto a colisão de direitos fundamentais nas relações de trabalho entre o poder diretivo do empregador e os direitos fundamentais do empregado. Nos casos de colisão desses direitos as soluções apresentadas nos casos concretos devem sempre procurar harmonizar as espaços de tensão entre as normas constitucionais a concretizar, procurando manter a unidade da Constituição. Para tanto, nestas situações o intérprete/aplicador do direito emprega o método da ponderação de bens e o princípio da proporcionalidade e de seus subprincípios, como meio de interpretação, aplicação e como forma de sopesamento nas situações de tensão e conflito entre bens constitucionalmente protegidos, que por se tratarem de normas constitucionais não se cogita de hierarquia entre ambas, conforme se constata no estudo tópico realizado em algumas decisões do Tribunal Superior do Trabalho sobre colisão de direitos fundamentais e poder diretivo.
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The employment relationships are formed by two subjects, on the one hand the employer, which through the directive power has the right to direct, organize, supervise the installment of the service of the employee; of another, the employee, legally subordinate to the employer. However, the directive power of the employer is not absolute, but it is limited by the presence of the fundamental rights of the employee (eg fundamental right to privacy, non-discrimination), which have effectively in the sphere of labour relations. Thus, the study has as its object the collision of fundamental rights in the employment relations between the directive power of the employer and the fundamental rights of the employee. In the case of collision of these rights the solutions presented in individual cases must always seek to harmonise the areas of tension between the constitutional requirements to achieve, trying to maintain the unity of the Constitution. This way, in these situations the interpreter / applicator of the right uses the method of the balance of goods and the principle of proportionality and its subprinciples, as a means of interpretation, application and as a way of balance in situations of tension and conflict between constitutionally protected rights, which by constitutional rules that they do not have hierarchy between them, as noted in the study topic held in some decisions of the Superior Labour Court on collision of fundamental rights and directive power.

The essay aims mostly at analyzing the regulation of the Natura 2000 network (the “Habitats directive”), in the wider context of the other tools established to protect the Biodiversity. This is the purpose of the Natura 2000 ecological network established by the “Habitats directive”, which was adopted in 1992 (the network, which also embraces areas established under the ‘Birds’ directive). In particular, the article 6 of the Directive 92/43/EEC plays a crucial role in the management of the sites that make up the Natura 2000 network. With the spirit of integration in mind, it indicates the various tasks involved so that the nature conservation interests of the sites can be safeguarded. The essay analyzes the trasposition of this Directive in Italy with attention to the environmental appropriate assessment, setting out the circumstances within which plans and projects with negative effects may or may not be allowed. It analyzes also the application of the precautionary principle to the administrative procedure provided to express the environmental appropriate assessment. Thus, the Habitats Directive also governs the compensatory measures. These measures constitute measures specific to a project or plan, additional to the normal practices of implementation of the ‘Nature’ directives. They aim to offset the negative impact of a project and to provide compensation corresponding precisely to the negative effects on the species or habitat concerned. The compensatory measures constitute the ‘last resort’. They are used only when the other safeguards provided for by the directive are ineffectual and the decision has been taken to consider, nevertheless, a project/plan having a negative effect on the Natura 2000 site. The main purpose of the essay is to understand the extension of the Natura 2000 network and if it is possible to use contractual arrangements in order to limit the current “size” of the environmental appropriate assessment.

In the educational-methodical manual deals with basic dramaturgical and staging the principles of working with documentary and artistic material, techniques use of fact and document in a journalistic view, clearly demonstrates techniques for creating imaginative solutions and scenarios of artistic and journalistic representations. Addressed to students of universities of arts and culture, studying under the direction of training 51.03.05 "direction of the dramatized representations and holidays", studying discipline "Directing poetry theater" and "writing"; and also workers of culture, Directors and practitioners working to create theatrical programs and mass celebrations.

AbstractIDD directive constitutes a piece of EU primary legislation and therefore it is obliged to respect the legal principles ruling the way in which EU acts towards the Member States, among which proportionality principle is of special importance. A legal act complies with the principle of proportionality if the measures adopted by the EU do not exceed the limits of what is appropriate and necessary to attain the objectives legitimately pursued by the legislation in question. According to IDD’s recitals, the measures adopted therein are proportional to the aim pursued by the IDD, i.e. customer protection. However, a live discussion boosted over the focal point of the IDD, i.e. a wide range of information duties, may lead to different conclusions and thereby put proportionality of the IDD in doubts. To verify this thesis, the author attempts to carry out the ‘proportionality test’ of the discussed information duties.

AbstractThis chapter presents the provisions of Chapter 14 (“Provisions regarding monetary penalties”) of NCSA containing provisions directed at implementing the provisions of Art. 21 of the NIS which obliging Member States to lay down sanctions applicable to infringements of the national provisions adopted pursuant to the NIS Directive and to take all necessary measures to ensure their implementation.Pursuant to the above provision of the NIS Directive, the Polish legislator adopted an appropriate provisions providing for administrative liability for three groups of entities: operators of essential services, digital service providers and (additionally) managers of operators of essential services.To the penalties imposed on the basis of the NCSA, the provisions of the Code of Administrative Procedure apply, which results directly from the content of art. 189a Code of Administrative Procedure.In this case, provisions of NCSA are ‘lex specialis’ and take precedence over codex regulations. On the other hand, however, it is difficult to consider the statutory regulation as complete (in Chapter 14, in principle, only provisions regulating the types of violations and the amount of administrative penalties are provided), hence the need to apply the provisions of the Code of Administrative Procedure.

AbstractWith the introduction of the Construction Products Directive EU305:2011, architects are more than ever required to select products with a high proportion of renewable raw materials. Only then will it be possible to internalise, hence to compensate, for environmental damage caused by technologies that do not conserve resources and are energy-intensive. Using a novel bio-based wood-plastic composite (WPC) as an example, this chapter shows that internalisation can be successful if conventional fossil plastics are “greened” by adding renewable biomass. The results show that this is only the case if the bio-content is not too high but exceeds a minimum value. The degree of sustainability depends on the assessment of the extent of damage to the environment and society. The optimal level of internalisation can then become allocatively efficient, meaning that the costs of avoiding plastics do not increase more than the damage costs decrease. The findings demonstrate that environmental protection can also be economically meaningful and potentially contributes to increasing social welfare in society. A paradigm shift towards restorative economy in construction should take this principle into account.

AbstractGender equality is an increasingly topical issue, but it has deep historical roots. The principle of gender equality found its legitimacy, even if limited to salary, in the 1957 Treaty of Rome, establishing the European Economic Community (EEC). This treaty, in Article 119, sanctioned the principle of equal pay between male and female workers. The EEC continued to protect women’s rights in the 1970s through equal opportunity policies. These policies referred, first, to the principle of equal treatment between men and women regarding education, access to work, professional promotion, and working conditions (Directive 75/117/EEC); second, to the principle of equal pay for male and female workers (Directive 76/207/EEC); and finally, enshrined the principle of equal treatment between men and women in matters of social security (Directive 79/7/EEC). Since the 1980s, several positive action programmes have been developed to support the role of women in European society. Between 1982 and 2000, four multiyear action programmes were implemented for equal opportunities. The first action programme (1982–1985) called on the Member States, through recommendations and resolutions by the Commission, to disseminate greater knowledge of the types of careers available to women, encourage the presence of women in decision-making areas, and take measures to reconcile family and working life. The second action programme (1986–1990) proposed interventions related to the employment of women in activities related to new technologies and interventions in favour of the equal distribution of professional, family, and social responsibilities (Sarcina, 2010). The third action programme (1991–1995) provided an improvement in the condition of women in society by raising public awareness of gender equality, the image of women in mass media, and the participation of women in the decision-making process at all levels in all areas of society. The fourth action programme (1996–2000) strengthened the existing regulatory framework and focused on the principle of gender mainstreaming, a strategy that involves bringing the gender dimension into all community policies, which requires all actors in the political process to adopt a gender perspective. The strategy of gender mainstreaming has several benefits: it places women and men at the heart of policies, involves both sexes in the policymaking process, leads to better governance, makes gender equality issues visible in mainstream society, and, finally, considers the diversity among women and men. Among the relevant interventions of the 1990s, it is necessary to recall the Treaty of Maastricht (1992) which guaranteed the protection of women in the Agreement on Social Policy signed by all Member States (except for Great Britain), and the Treaty of Amsterdam (1997), which formally recognised gender mainstreaming. The Treaty of Amsterdam includes gender equality among the objectives of the European Union (Article 2) and equal opportunity policies among the activities of the European Commission (Article 3). Article 13 introduces the principle of non-discrimination based on gender, race, ethnicity, religion, or handicaps. Finally, Article 141 amends Article 119 of the EEC on equal treatment between men and women in the workplace. The Charter of Fundamental Rights of the Nice Union of 2000 reaffirms the prohibition of ‘any discrimination based on any ground such as sex’ (Art. 21.1). The Charter of Fundamental Rights of the European Union also recognises, in Article 23, the principle of equality between women and men in all areas, including employment, work, and pay. Another important intervention of the 2000s is the Lisbon strategy, also known as the Lisbon Agenda or Lisbon Process. It is a reform programme approved in Lisbon by the heads of state and governments of the member countries of the EU. The goal of the Lisbon strategy was to make the EU the most competitive and dynamic knowledge-based economy by 2010. To achieve this goal, the strategy defines fields in which action is needed, including equal opportunities for female work. Another treaty that must be mentioned is that of Lisbon in 2009, thanks to which previous treaties, specifically the Treaty of Maastricht and the Treaty of Rome, were amended and brought together in a single document: the Treaty on European Union (TEU) and the Treaty on the Functioning of the European Union (TFEU). Thanks to the Lisbon Treaty, the Charter of Fundamental Rights has assumed a legally binding character (Article 6, paragraph 1 of the TEU) both for European institutions and for Member States when implementing EU law. The Treaty of Lisbon affirms the principle of equality between men and women several times in the text and places it among the values and objectives of the union (Articles 2 and 3 of the TEU). Furthermore, the Treaty, in Art. 8 of the TFEU, states that the Union’s actions are aimed at eliminating inequalities, as well as promoting equality between men and women, while Article 10 of the TFEU provides that the Union aims to ‘combat discrimination based on sex, racial or ethnic origin, religion or belief, disability, age, or sexual orientation’. Concerning the principle of gender equality in the workplace, the Treaty, in Article 153 of the TFEU, asserts that the Union pursues the objective of equality between men and women regarding labour market opportunities and treatment at work. On the other hand, Article 157 of the TFEU confirms the principle of equal pay for male and female workers ‘for equal work or work of equal value’. On these issues, through ordinary procedures, the European Parliament and the Council may adopt appropriate measures aimed at defending the principle of equal opportunities and equal treatment for men and women. The Lisbon Treaty also includes provisions relating to the fight against trafficking in human beings, particularly women and children (Article 79 of the TFEU), the problem of domestic violence against women (Article 8 of the TFEU), and the right to paid maternity leave (Article 33). Among the important documents concerning gender equality is the Roadmap (2006–2010). In 2006, the European Commission proposed the Roadmap for equality between women and men, in addition to the priorities on the agenda, the objectives, and tools necessary to achieve full gender equality. The Roadmap defines six priority areas, each of which is associated with a set of objectives and actions that makes it easier to achieve them. The priorities include equal economic independence for women and men, reconciliation of private and professional life, equal representation in the decision-making process, eradication of all forms of gender-based violence, elimination of stereotypes related to gender, and promotion of gender equality in external and development policies. The Commission took charge of the commitments included in the Roadmap, which were indirectly implemented by the Member States through the principle of subsidiarity and the competencies provided for in the Treaties (Gottardi, 2013). The 2006–2010 strategy of the European Commission is based on a dual approach: on the one hand, the integration of the gender dimension in all community policies and actions (gender mainstreaming), and on the other, the implementation of specific measures in favour of women aimed at eliminating inequalities. In 2006, the European Council approved the European Pact for Gender Equality which originated from the Roadmap. The European Pact for Gender Equality identified three macro areas of intervention: measures to close gender gaps and combat gender stereotypes in the labour market, measures to promote a better work–life balance for both women and men, and measures to strengthen governance through the integration of the gender perspective into all policies. In 2006, Directive 2006/54/EC of the European Parliament and Council regulated equal opportunities and equal treatment between male and female workers. Specifically, the Directive aims to implement the principle of equal treatment related to access to employment, professional training, and promotion; working conditions, including pay; and occupational social security approaches. On 21 September 2010, the European Commission adopted a new strategy to ensure equality between women and men (2010–2015). This new strategy is based on the experience of Roadmap (2006–2010) and resumes the priority areas identified by the Women’s Charter: equal economic independence, equal pay, equality in decision-making, the eradication of all forms of violence against women, and the promotion of gender equality and women’s empowerment beyond the union. The 2010–2015 Strategic Plan aims to improve the position of women in the labour market, but also in society, both within the EU and beyond its borders. The new strategy affirms the principle that gender equality is essential to supporting the economic growth and sustainable development of each country. In 2010, the validity of the Lisbon Strategy ended, the objectives of which were only partially achieved due to the economic crisis. To overcome this crisis, the Commission proposed a new strategy called Europe 2020, in March 2010. The main aim of this strategy is to ensure that the EU’s economic recovery is accompanied by a series of reforms that will increase growth and job creation by 2020. Specifically, Europe’s 2020 strategy must support smart, sustainable, and inclusive growth. To this end, the EU has established five goals to be achieved by 2020 and has articulated the different types of growth (smart, sustainable, and inclusive) in seven flagship initiatives. Among the latter, the initiative ‘an agenda for new skills and jobs’, in the context of inclusive growth, is the one most closely linked to gender policies and equal opportunities; in fact, it substantially aims to increase employment rates for women, young, and elderly people. The strategic plan for 2010–2015 was followed by a strategic commitment in favour of gender equality 2016–2019, which again emphasises the five priority areas defined by the previous plan. Strategic commitment, which contributes to the European Pact for Gender Equality (2011–2020), identifies the key actions necessary to achieve objectives for each priority area. In March 2020, the Commission presented a new strategic plan for equality between women and men for 2020–2025. This strategy defines a series of political objectives and key actions aimed at achieving a ‘union of equality’ by 2025. The main objectives are to put an end to gender-based violence and combat sexist stereotypes, ensure equal opportunities in the labour market and equal participation in all sectors of the economy and political life, solve the problem of the pay and pension gap, and achieve gender equality in decision-making and politics. From the summary of the regulatory framework presented, for the European Economic Community first, then for the European Community, and finally for the European Union, gender equality has always been a fundamental value. Interest in the issues of the condition of women and equal opportunities has grown over time and during the process of European integration, moving from a perspective aimed at improving the working conditions of women to a new dimension to improve the life of the woman as a person, trying to protect her not only professionally but also socially, and in general in all those areas in which gender inequality may occur. The approach is extensive and based on legislation, the integration of the gender dimension into all policies, and specific measures in favour of women. From the non-exhaustive list of the various legislative interventions, it is possible to note a continuous repetition of the same thematic priorities which highlights, on the one hand, the poor results achieved by the implementation of the policies, but, on the other hand, the Commission’s willingness to pursue the path initially taken. Among the achievements in the field of gender equality obtained by the EU, there is certainly an increase in the number of women in the labour market and the acquisition of better education and training. Despite progress, gender inequalities have persisted. Even though women surpass men in terms of educational attainment, gender gaps still exist in employment, entrepreneurship, and public life (OECD, 2017). For example, in the labour market, women continue to be overrepresented in the lowest-paid sectors and underrepresented in top positions (according to the data released in the main companies of the European Union, women represent only 8% of CEOs).

The focus of this paper is the new European legislation designed to harmonize domestic laws on the retention of telecommunications data for the purpose of assisting law enforcement efforts. The European Union introduced the EC Data Retention Directive in 2006. This Directive requires the retention of every European citizen’s communications data for up to two years for the purpose of police investigation. There is, however, a major problem with the Directive in that it regularizes, and thereby entrenches, the practice of data retention across Europe. No systematic empirical evidence supports the introduction of such broad surveillance. The existence of data retention in principle raises concerns for data protection and the right to respect of privacy as protected under the European Convention of Human Rights (ECHR). This paper questions the proportionality of the Directive in line with data protection principles and Europe’s obligations under Article 8 of the ECHR.

The principle of good administration is not mentioned amongst the public procurement principles in Directive 2014/24/EU, however, it is applicable to the public procurement field as a general principle of law. In this article, the author analyses the understanding of this versatile principle in public procurement practice in Latvia. The author concludes that the references are quite rare, but there are several aspects, concerning which the principle of good administration is used more often, i.e., in cases of information exchange and tender clarification, if the tender is rejected. Therefore, the protection of the rights of individuals in cases that are not clearly regulated could be seen as an important aspect where the principle of good administration is used.

The Digital Single Market Directive 2019/790 constitutes a significant milestone in the field of copyright, especially its provisions aimed to ensure the fair remuneration for authors and performers. This publication focuses on Art. 18 of the Directive, which establishes the principle of appropriate and proportionate remuneration. This principle follows from the general understanding of authors and performers as a weaker bargaining party. Being formulated abstractly, the principle of appropriate and proportionate remuneration leaves broad discretion for its implementation. Therefore, the article presents case studies concerning the implementation of the said principle into national laws of the three Baltic States: Estonia, Latvia, and Lithuania. The first task is to check the operation of the principle of appropriate and proportionate remuneration in the national legal acts before the implementation of the Digital Single Market Directive. The second task is to compare and assess the prepared national draft legal acts and how they implement this principle. The article concludes that all three Baltic States have chosen a “minimalist” implementation strategy and, as a consequence, the appropriate and proportionate remuneration principle most likely will have no real independent value.

The non-splitting (indivisibility) of a share constitutes one of the fundamental principles of company law. It encompasses the idea that the voting rights (‘control rights’) and economic interests (‘economic rights’ or ‘ownership rights’) are intrinsically bound up in a single share. In recent years, “empty voting” – a tactic allowing to decouple voting rights from economic ownership which embrace a variety of factual circumstances that ultimately result in a partial or a full separation of the right to vote at a shareholders’ meeting from beneficial (i.e. economic) ownership of the shares on the meeting date to influence company’s decision-making process without the intention to hold shares for a longer period of time has become interest of the European legislator. This paper investigates how the European law legal framework approaches to combat the issues caused by empty voting and thus how the principle of non-splitting (indivisibility) of shares in upheld in the EU law. The article explores the features of empty voting, characterizes various approaches to minimizing its impact on the disintegration of a share (i.e., a violation of the principle of non-splitting) and proper functioning of a company, and tries to evaluate the legislative reactions to this phenomenon at the level of EU law level – (Transparency Directive and Shareholders Rights Directive). It also discusses examples of the implementation of the measures in the Polish legal order (i.e. record date system). It is argued that already undertaken regulatory steps: disclosure and information obligations should be seen as a step forward that contributes to upholding the principle of non-splitting of shares in public companies, although they do not forbid the empty voting itself.

The non-splitting (indivisibility) of a share constitutes one of the fundamental principles of company law. It encompasses the idea that the voting rights ('control rights') and economic interests ('economic rights' or 'ownership rights') are intrinsically bound up in a single share. In recent years, “empty voting” - a tactic allowing to decouple voting rights from economic ownership which embrace a variety of factual circumstances that ultimately result in a partial or a full separation of the right to vote at a shareholders' meeting from beneficial (i.e. economic) ownership of the shares on the meeting date to influence company's decision-making process without the intention to hold shares for a longer period of time has become interest of the European legislator. This paper investigates how the European law legal framework approaches to combat the issues caused by empty voting and thus how the principle of non-splitting (indivisibility) of shares in upheld in the EU law. The article explores the features of empty voting, characterizes various approaches to minimizing its impact on the disintegration of a share (i.e., a violation of the principle of non-splitting) and proper functioning of a company, and tries to evaluate the legislative reactions to this phenomenon at the level of EU law level – (Transparency Directive and Shareholders Rights Directive). It also discusses examples of the implementation of the measures in the Polish legal order (i.e. record date system). It is argued that already undertaken regulatory steps: disclosure and information obligations should be seen as a step forward that contributes to upholding the principle of non-splitting of shares in public companies, although they do not forbid the empty voting itself

The compliance function is one of the key functions in modern business. The principle of business legality as one of the basic principles in insurance companies must be respected at all organizational levels of the company. The establishment of the compliance function enables easier implementation of the aforementioned principle, continuous monitoring of changes in the legal environment and identification of compliance risks. In a modern environment characterized by frequent and complex changes in regulations the compliance officer advises management and employees in order to achieve compliance and best practice of corporate governance. In the paper, the author analizes main duties of the compliance officer. The first part briefly points out the importance of the compliance function for the corporate governance in insurance companies. The second part analyzes the duties of the complince officer provided by the Solvency II Directive, and the other duties that are most often assigned to this function.

The New industry strategy for Europe puts the single market at its core, as one of the fundamentals of Europe’s industrial transformation. To make the single market work for all, EU law puts in place common rules to eliminate barriers and facilitate the circulation of goods and services across the EU. These rules can give the expected effects only if their application is ensured. In the field of services, there is great potential that could be realized by better application of existing and adoption of new rules on key instruments for ensuring freedom of movement of services, namely the Services Directive and the Directive on the Recognition of Professional Qualifications. This is the reason why the paper pays attention to the mentioned directives, but primarily through the analysis of the rules contained in other related documents that should ensure proper implementation of rules on services that are already in force. These are the rules that regulate the procedure of notification of requests for access and provision of services, define the principle of proportionality and a single contact point, in a more complete and somewhat different way than it was done before.

According to the law, the employer is obliged to ensure equal treatment of all, regardless of any personal circumstances. Discrimination is prohibited, but not all unequal treatment is discrimination. In practice, the implementation of the principle of equality requires measures stemming from the EU Equal Treatment Directive, which strengthens the position of disadvantaged groups and increases employment and career prospects. Today, corporate social responsibility is of great importance in achieving business and economic success. In addition to striving for profit, companies also include respect and equal treatment of all stakeholders. Social responsibility affects employee’s satisfaction, which is reflected in greater productivity and competitiveness. The paper substantiates companies' commitments to respect human rights, in particular the right to work and employment, it also analyses various aspects of unequal treatment between employees and jobseekers as fair treatment of the labour market is particularly important in pandemic times. The rights deriving from work are all the greater.

The experimental nuclear power reactor based on the fusion principle, tested in the framework of the international project ITER, will be installed in France. In Europe, all pressure equipments must comply with the Pressure Equipment Directive 97/23/CE (PED) and satisfy the Essential Safety Requirements (ESRs) set out in its Annex I. For pressure equipments not conforming to European harmonized standards it must be demonstrated that all ESRs are satisfied. Nuclear pressure equipments are not within the scope of PED but those installed on the French soil must comply with the French Order dated December 2005 on nuclear pressure equipment (ESPN). As far as ESRs are concerned, ESPN gives complementary requirements to PED. For this international project and for sake of consistency, ASME Codes were chosen for the construction of all pressure equipments. For each selected Code, its compliance with PED and ESPN legislations has been examined. All applicable ESRs have been identified as “totally”, partially” or “not complied” together with the paragraph of the Code under review that fulfill the ESR. When needed complementary specifications were established. This presentation focuses on the ASME BPV Code Section VIII Division 2 and on the B31.3 Code, excluding Level N1 nuclear equipment aspects.

The goals of this research program were to: (1) assess the mechanical and fracture properties of spiral-welded pipe, (2) characterize the crack initiation and maximum load carrying capacity, and (3) determine stress magnification factors for helical flaws. Flattened-strap tensile tests, Charpy V-notch (CVN) tests, and JIC fracture toughness tests were performed to meet the first objective. Results showed that tensile properties are independent of specimen orientation, while CVN data varied by as much as 3 to 1 for parallel vs. transverse machined specimens. Full-scale pipe fracture experiments were conducted to meet the second and third objectives. Results showed that crack initiation was parallel to the rolling direction regardless of the principle stress direction. Stress magnification factors were also developed for through-wall and surface cracks under longitudinal and circumferential stresses. These factors allow design engineers to predict the critical bending stress, circumferential stress, and flaw size for spiral-welded pipe.

Introducción En 2023 el Banco de la República celebra 100 años de su fundación. Este es un aniversario de gran significado, el cual ofrece la oportunidad de resaltar el aporte que el Banco ha hecho al desarrollo del país. Su trayectoria como garante de la estabilidad monetaria lo ha consolidado como la institución estatal independiente que genera mayor confianza entre los colombianos por su transparencia, capacidad de gestión y el cumplimiento efectivo de las funciones de banca central y culturales encomendadas en la Constitución y la Ley. En una fecha tan importante como esta, la Junta Directiva del Banco de la República (JDBR) hace un reconocimiento a las generaciones de directivos y funcionarios que con su compromiso y dedicación contribuyeron a engrandecer esta institución1. El mandato del Banco de la República se consolidó en la Asamblea Nacional Constituyente de 1991, para cuya integración los ciudadanos tuvieron la oportunidad de elegir a las setenta personas que tendrían como tarea redactar una nueva constitución. Los dirigentes de los tres movimientos políticos más votados fueron elegidos presidentes de la Asamblea, y esta presidencia tripartita reflejó la pluralidad y la necesidad de consenso entre las diferentes fuerzas políticas para sacar adelante la reforma. Entre los asuntos considerados, la Asamblea Nacional Constituyente le otorgó especial importancia a la estabilidad monetaria. Por esta razón decidió incluir el tema de banca central y dotar al Banco de la República de la autonomía necesaria para utilizar los instrumentos a su cargo sin injerencia de otras autoridades. El constituyente entendió que velar por la estabilidad de precios es un deber del Estado y que la entidad responsable de este cometido debe estar consagrada en la Constitución y contar con la capacidad técnica y autonomía institucional necesaria para adoptar las decisiones que considere pertinentes para alcanzar este objetivo fundamental, en coordinación con la política económica general. En particular, el artículo 373 estableció que “el Estado, por intermedio del Banco de la República, velará por el mantenimiento de la capacidad adquisitiva de la moneda”, disposición que coincidía con el esquema de banca central adoptado por países exitosos en el control de la inflación. En 1999, mediante sentencia 481, la Corte Constitucional indicó que “el deber de mantener la capacidad adquisitiva de la moneda no solo se predica de la autoridad monetaria, crediticia y cambiaria, esto es de la Junta del Banco de la República, sino también de quienes tienen responsabilidades en la formulación y ejecución de la política económica general del país” y que “la finalidad constitucional básica del Banco de la República es la protección de la moneda sana, pero esa autoridad debe tomar en consideración en sus decisiones los otros objetivos económicos de la intervención del Estado, como el pleno empleo, pues sus funciones deben coordinarse con la política económica general.” La reforma al Banco de la República concertada en la Constituyente de 1991 y en la Ley 31 de 1992 se puede resumir en los siguientes aspectos: i) asignó al Banco un mandato específico: mantener la capacidad adquisitiva de la moneda, en coordinación con la política económica general; ii) designó a la JDBR como autoridad monetaria, cambiaria y crediticia; iii) otorgó al Banco y a su Junta Directiva un importante grado de independencia frente al Gobierno; iv) prohibió al Banco otorgar crédito al sector privado distinto del financiero; v) estableció que para otorgar crédito al Gobierno se requería del voto unánime de su Junta Directiva, a menos que se trate de operaciones de mercado abierto; vi) determinó que el legislador, en ningún caso, podrá ordenar cupos de crédito a favor del Estado o de los particulares; vii) designó al Congreso, en representación de la sociedad, como principal destinatario del ejercicio de rendición de informes del Banco; y viii) delegó en el presidente de la República la función de inspección, vigilancia y control sobre el Banco de la República. Los miembros de la Asamblea Nacional Constituyente entendieron claramente que los beneficios de una inflación baja y estable se extienden a toda la sociedad y contribuyen al buen funcionamiento del sistema económico. Entre los más importantes cabe mencionar que una inflación baja promueve el uso eficiente de los recursos productivos, al permitir que los precios relativos guíen de mejor forma la asignación de recursos, lo cual promueve el crecimiento económico y aumenta el bienestar de la población. Igualmente, una inflación baja reduce la incertidumbre sobre la rentabilidad esperada de la inversión y sobre el precio futuro de los activos, lo que aumenta la confianza de los agentes económicos, facilita la financiación de largo plazo y estimula la inversión. Una inflación baja evita redistribuciones arbitrarias del ingreso y la riqueza, debido a que los estratos de ingresos bajos de la población no pueden protegerse de la inflación mediante la diversificación de sus activos, y concentran una elevada proporción de su ingreso en la compra de alimentos y otros bienes básicos, ítems que generalmente son los más afectados por los choques inflacionarios2. Por otra parte, una baja inflación facilita las negociaciones salariales, lo cual crea un buen clima laboral y reduce la volatilidad del nivel de empleo. Finalmente, una inflación baja contribuye a que el sistema de impuestos sea más transparente y equitativo, al evitar las distorsiones que la inflación introduce sobre el valor de los activos y de los ingresos que componen la base tributaria. Desde el punto de vista de la autoridad monetaria, uno de los beneficios más relevantes de una inflación baja es la credibilidad que los agentes económicos adquieren en la meta de inflación, lo que la convierte en un ancla nominal efectiva sobre el nivel de precios. Al recibir su mandato, y en uso de su autonomía, el Banco de la República empezó a anunciar metas puntuales de inflación anual a partir de 1992. Si bien en esta primera etapa las metas de inflación propuestas no se lograron cumplir de forma precisa, sí se consiguió imprimirle a la inflación una tendencia descendente, que la llevó desde un nivel del 32,4% en 1990 al 16,7% en 1998. Para aquella época la tasa de cambio se mantenía dentro de una banda, lo cual limitaba la efectividad de la política monetaria, que buscaba cumplir simultáneamente una meta de inflación y un objetivo de tasa de cambio. La crisis asiática se contagió a las economías emergentes y afectó de manera importante a la economía colombiana. La tasa de cambio presentó una fuerte presión a la depreciación al cerrarse el acceso al financiamiento externo en condiciones de un elevado desequilibrio externo. Lo anterior, junto con la falta de flexibilidad cambiaria, impidió hacer una política monetaria contracíclica, lo que condujo a una contracción del PIB del 4,2% en dicho año. En este contexto de desaceleración económica, la inflación anual se redujo al 9,2% a finales de 1999, situándose por debajo de la meta del 15% que se había fijado para ese año. Este episodio reveló plenamente lo costoso que podría ser, en términos de actividad económica, el tener simultáneamente metas para la inflación y para la tasa de cambio. Hacia finales de 1999 el Banco de la República anunció la adopción de un nuevo régimen de política monetaria que denominó Esquema de Inflación Objetivo. Este régimen, conocido internacionalmente como ‘Inflation Targeting,’ venía ganando creciente aceptación en países desarrollados, al haber sido adoptado a partir de 1991 por Nueva Zelanda, Canadá e Inglaterra, entre otros, logrando importantes avances en el manejo de la inflación, sin incurrir en costos en términos de actividad económica. En América Latina, Brasil y Chile también lo acogieron en 1999. En el caso colombiano, el último requisito pendiente por cumplir para adoptar dicho esquema de política era la flexibilidad de la tasa de cambio, la cual se materializó hacia septiembre de 1999, cuando la JDBR decidió abandonar las bandas cambiarias para permitir que la tasa de cambio se determinara libremente en el mercado. De forma coherente con el mandato constitucional, el objetivo fundamental de este nuevo esquema de política consistía en “el cumplimiento de una meta de inflación que contribuya a mantener un crecimiento del producto alrededor de su capacidad potencial”3. Dicha capacidad potencial se entendía como aquel crecimiento del PIB que la economía puede obtener si utiliza plenamente sus recursos productivos. Para cumplir este objetivo la política monetaria debe cumplir necesariamente un papel contracíclico en la economía. Ello porque cuando la actividad económica está por debajo de su potencial y existen recursos ociosos, la autoridad monetaria puede reducir la tasa de interés ante la ausencia de presiones inflacionarias para estimular por esa vía la economía y, de manera inversa, cuando el producto supera su capacidad potencial. Este principio de política, que está inmerso en los modelos para guiar la postura de política monetaria, hace que, en el mediano plazo, sean totalmente compatibles los objetivos del cumplimiento de la meta de inflación y de un nivel de actividad económica compatible con su capacidad productiva. Para alcanzar este propósito, en el esquema de inflación objetivo se utiliza la tasa de interés del mercado monetario (a la cual el banco central suministra liquidez primaria a los bancos comerciales), como el instrumento primordial de política. Con ello se sustituyó la cantidad de dinero como meta intermedia de política monetaria, que el Banco de la República, al igual que varios otros bancos centrales, utilizaron por mucho tiempo. En el caso colombiano, el objetivo del nuevo esquema de política monetaria implicaba, en términos prácticos, que la recuperación de la economía, luego de la contracción ocurrida en 1999, debía lograrse al tiempo que se cumplían las metas decrecientes de inflación establecidas por la JDBR. De manera notable este propósito se cumplió. En la primera mitad de la década del 2000 la actividad económica logró una recuperación importante, hasta alcanzar un crecimiento del 6,8% en 2006. Entretanto, la inflación fue descendiendo gradualmente, en línea con las metas de inflación. Fue así como la tasa de inflación se redujo desde el 9,2% en 1999 al 4,5% en 2006, cumpliendo con la meta de inflación establecida para ese año, mientras que el PIB alcanzó su nivel potencial. Después de lograrse este equilibrio en 2006, la inflación repuntó al 5,7% en 2007, por encima de la meta del 4% fijada para ese año, debido a que el crecimiento del PIB del 7,5% superó su capacidad potencial4. Luego de comprobarse la eficacia del esquema de inflación objetivo en sus primeros años de operación, este régimen de política continuó consolidándose a medida que la JDBR y el equipo técnico ganaron experiencia en su manejo y se incorporaron modelos económicos de última tecnología para diagnosticar el estado presente y futuro de la economía, y evaluar la persistencia de los desvíos de la inflación y sus expectativas con respecto a la meta de inflación. A partir de 2010 la JDBR estableció la meta de inflación anual de largo plazo del 3%, que continúa vigente en la actualidad. La menor inflación ha contribuido a crear un entorno macroeconómico más estable, que ha favorecido el crecimiento económico sostenido, la estabilidad financiera, el desarrollo del mercado de capitales y el funcionamiento de los sistemas de pagos. Gracias a ello se lograron reducciones en la prima por riesgo inflacionario y menores tasas de interés de los TES y de crédito. A su vez, la duración de la deuda interna pública aumentó de forma importante pasando de 2,27 años en diciembre de 2002 a 5,86 años en diciembre de 2022 y la profundización financiera, medida como el nivel de la cartera como porcentaje del PIB, pasó de cerca del 20% a mediados de la década de los noventa a valores superiores al 45% en años recientes, en un contexto saludable de los establecimientos de crédito. Los logros tangibles alcanzados por el Banco de la República en el manejo de la inflación al haber contado con la autonomía que le otorgó la Constitución para cumplir con el mandato de preservar el poder adquisitivo de la moneda, junto con los importantes beneficios que se derivaron del proceso de llevar la inflación a su meta de largo plazo, hacen que el reto que actualmente enfrenta la JDBR de retornar la inflación a la meta del 3% sea aún más exigente y apremiante. Como es bien conocido, a partir de 2021, y especialmente en 2022, la inflación en Colombia volvió a convertirse en un serio problema económico, con elevados costos de bienestar. El fenómeno inflacionario no ha sido exclusivo de Colombia y es así como muchos otros países desarrollados y emergentes han visto alejarse sus tasas de inflación de las metas propuestas por sus bancos centrales5. Las razones de este fenómeno se han analizado en los recientes Informes al Congreso, y en esta nueva entrega se profundiza al respecto con información actualizada. La sólida base institucional y técnica que soporta el esquema de inflación objetivo bajo el cual opera la estrategia de política monetaria le da a la JDBR los elementos necesarios para enfrentar con confianza este difícil reto. Al respecto, en su comunicado del 25 de noviembre la JDBR reiteró su compromiso con la meta de inflación del 3,0%, la cual prevé alcanzar hacia finales de 20246. La política monetaria continuará enfocada en cumplir este objetivo, al tiempo que velará por la sostenibilidad de la actividad económica, tal y como lo ordena la Constitución. Las encuestas a analistas llevadas a cabo en marzo mostraron un incremento importante (del 32,3% en enero al 48,5% en marzo) en el porcentaje de respuestas que sitúan las expectativas de inflación a dos años o más en un rango entre el 3% y 4%. Este es un indicativo claro de recuperación de credibilidad en la meta de inflación a mediano plazo, lo cual guarda coherencia con el anuncio de la JDBR de noviembre pasado. La moderación de la tendencia alcista de la inflación que se observó en enero, y especialmente en febrero, contribuirá a reforzar esta revisión de expectativas de inflación, y ayudará a cumplir los objetivos propuestos. Luego de registrarse una inflación del 5,6% a finales de 2021, la inflación mantuvo una tendencia alcista a lo largo de 2022 debido a las presiones inflacionarias tanto de origen externo, asociadas con las secuelas de la pandemia y las consecuencias del conflicto bélico en Ucrania, como de origen interno, resultantes de: el fortalecimiento de la demanda local; los procesos de indexación de precios estimulados por el aumento de las expectativas de inflación; las afectaciones a la producción de alimentos provocadas por el paro de mediados de 2021, y el traspaso de la depreciación a los precios. Los aumentos del salario mínimo del 10% en 2021 y del 16% en 2022, que en ambos casos superaron la inflación observada y el incremento de la productividad, acentuaron los procesos de indexación al haber establecido un elevado referente de ajuste nominal. De esta forma, la inflación total aumentó al 13,1% a finales 2022. La variación anual de alimentos, que subió del 17,2% al 27,8% entre esos dos años, fue el factor que más influyó en la aceleración del Índice de Precios al Consumidor (IPC). Otro rubro que contribuyó de manera importante a las alzas de precios fue el de regulados, cuya variación anual aumentó del 7,1% en diciembre de 2021 al 11,8% a finales de 2022. Por su parte, la medida de inflación básica sin alimentos ni regulados subió del 2,5% al 9,5% entre finales de 2021 y finales de 2022. El aumento sustancial de la inflación básica muestra que la presión inflacionaria se extendió a la mayoría de los rubros de la canasta familiar, lo cual es característico de procesos inflacionarios con una indexación de precios generalizada, como ocurre en Colombia. La política monetaria empezó a reaccionar tempranamente a estas presiones inflacionarias. Fue así como a partir de su sesión de septiembre de 2021 la JDBR inició un cambio progresivo de la postura de la política monetaria a partir del mínimo histórico del 1,75% de la tasa de interés de política al cual se había llegado para estimular la recuperación de la economía. Este proceso de ajuste prosiguió sin interrupción a lo largo de 2022 y hasta inicios de 2023, cuando la tasa de política monetaria alcanzó el 12,75% en enero pasado, con lo cual acumuló un incremento de 11 puntos porcentuales (pp). El público y los mercados se han mostrado sorprendidos de que la inflación continuara aumentando, a pesar de los significativos incrementos de la tasa de interés. Pero como lo ha explicado la JDBR en sus diversas comunicaciones, la política monetaria actúa con rezago. Así como en 2022 la actividad económica se recuperó hasta alcanzar un nivel superior al de prepandemia, impulsada, entre otros factores, por el estímulo monetario otorgado durante el período de pandemia y de los meses subsiguientes, así también los efectos de la actual política monetaria restrictiva se irán dando paulatinamente, lo que permite esperar que hacia finales de 2024 la tasa de inflación converja hacia el 3%, como es el propósito de la JDBR. Los resultados de la inflación en enero y febrero de este año mostraron incrementos marginales decrecientes (13 pb y 3 pb respectivamente), en comparación con la variación observada en diciembre (59 pb). Esto sugiere que se aproxima un punto de inflexión en la tendencia de la inflación. En otros países de América Latina, como Chile, Brasil, Perú y México, la inflación llegó a su techo y ha empezado a descender lentamente, aunque con algunos altibajos. Es previsible que en Colombia ocurra un proceso similar durante los próximos meses. El descenso previsto de la inflación en 2023 obedecerá, entre otros factores, a las menores presiones de costos externos por cuenta de la progresiva normalización de las cadenas de suministro, a la superación de los choques de oferta por razones de clima y por los bloqueos viales de años anteriores, lo que se reflejará en menores ajustes en los precios de los alimentos, como ya se observó en los primeros dos meses del año y, por supuesto, al efecto rezagado de la política monetaria. El proceso de convergencia de la inflación a la meta será gradual y se extenderá más allá de 2023. Dicho proceso se facilitará si se revierten las presiones a la devaluación, para lo cual resulta esencial que se continúe consolidando la sostenibilidad fiscal y se eviten mensajes en diferentes frentes de la política pública que generan incertidumbre y desconfianza. _______________________________________ 1 Este Informe al Congreso contiene el recuadro 1 que resume la trayectoria del Banco de la República en estos 100 años. Adicionalmente, con auspicio del Banco, varios libros que profundizan diversos aspectos de la historia de esta institución fueron publicados en años recientes. Véase, por ejemplo: Historia del Banco de la República 1923-2015; Tres banqueros centrales; Junta Directiva del Banco de la República: grandes episodios en 30 años de historia; Banco de la República : 90 años de la banca central en Colombia. 2 Es por ello que una menor inflación se ha reflejado en la reducción de la desigualdad del ingreso medida a través del coeficiente de Gini al pasar de 58,7 en 1998 a 51,3 en el año previo a la pandemia. 3 Véase Gómez Javier, Uribe José Darío, Vargas Hernando (2002). “The Implementation of Inflation Targeting in Colombia”. Borrador de Economía, núm. 202, marzo, disponible en: https://repositorio.banrep.gov.co/handle/20.500.12134/5220 4 Véase López-Enciso Enrique A.; Vargas-Herrera Hernando y Rodríguez-Niño Norberto (2016). “La estrategia de inflación objetivo en Colombia. Una visión histórica”, Borrador de Economía, núm. 952. https://repositorio.banrep.gov.co/handle/20.500.12134/6263 5 Según el FMI, la variación porcentual de los precios al consumidor entre 2021 y 2022 pasó del 3,1 % al 7,3 % para las economías avanzadas, y del 5,9 % al 9,9 % para las economías de mercados emergentes y en vías de desarrollo. 6 https://www.banrep.gov.co/es/noticias/junta-directiva-banco-republica-reitera-meta-inflacion-3

This paper discusses innovative approaches to implementing the Bank's Sustainable Infrastructure Strategy in the region. It describes the challenge of infrastructure in LAC, overviews approaches to sustainable infrastructure, describes Bank sustainable infrastructure activities, and begins the process of describing an integrated approach to sustainable infrastructure. This paper does not enter into the details of indicators and metrics for sustainable infrastructure, but it does look at criteria across the energy, transport, and water and sanitation sectors in both urban and non-urban contexts and describes sustainability concerns in LAC countries. This is therefore an initial step in the direction of establishing principles, criteria, and indicators for sustainable infrastructure in the Bank.

This work deals with the new, relativistic direction in quantum econophysics, within the bounds of which a change of the classical paradigms in mathematical modelling of socio-economic system is offered. Classical physics proceeds from the hypothesis that immediate values of all the physical quantities, characterizing system’s state, exist and can be accurately measured in principle. Non-relativistic quantum mechanics does not reject the existence of the immediate values of the classical physical quantities, nevertheless not each of them can be simultaneously measured (the uncertainty principle). Relativistic quantum mechanics rejects the existence of the immediate values of any physical quantity in principle, and consequently the notion of the system state, including the notion of the wave function, which becomes rigorously nondefinable. The task of this work consists in econophysical analysis of the conceptual fundamentals and mathematical apparatus of the classical physics, relativity theory, non-relativistic and relativistic quantum mechanics, subject to the historical, psychological and philosophical aspects and modern state of the socio-economic modeling problem. We have shown that actually and, virtually, a long time ago, new paradigms of modeling were accepted in the quantum theory, within the bounds of which the notion of the physical quantity operator becomes the primary fundamental conception(operator is a mathematical image of the procedure, the action), description of the system dynamics becomes discrete and approximate in its essence, prediction of the future, even in the rough, is actually impossible when setting aside the aftereffect i.e. the memory. In consideration of the analysis conducted in the work we suggest new paradigms of the economical-mathematical modeling.

Magnetometers are sensors that measure the magnitude and direction of a magnetic field. There are many types of magnetometers available, but they all rely on electromagnetic principles to measure fields. The most common types are Hall effect, anisotropic magneto-resistive (AMR) and fluxgate sensors. The goal of this study is to investigate several magnetometers to evaluate their capability to detect small changes in an ambient field. These small changes are on the order of 10 milligauss (1 �T) and are caused by the inverse-magnetostrictive effect, or Villari effect, from ferromagnetic pipes. The chosen magnetometer must have a low noise signal and a fine resolution to properly measure the field from the inverse-magnetostrictive effect. To evaluate the chosen magnetometers, multiple sets of measurements were made in a stationary magnetic field and the standard deviation of the data sets were calculated. The noise of some sensors was further investigated to verify that it was normally distributed.

La presente investigación se ha enfocado en identificar el modelo de liderazgo aplicado actualmente por los administradores de las Instituciones de Educación Media de la ciudad de Ibagué, mediante el desarrollo de un diagnóstico para el cual se realizó un levantamiento y procesamiento de información a través de la aplicación del cuestionario diseñado por el profesor Lee G. Bolman. Este diagnóstico permitió determinar las cualidades y habilidades más destacadas de acuerdo al modelo de los estilos de liderazgo de los rectores y/o coordinadores académicos de las instituciones educativas de la ciudad de Ibagué. Esta investigación se desarrolla mediante el enfoque de investigación cuantitativa de tipo exploratorio y descriptivo, con la aplicación del instrumento de recolección (Cuestionario). Los resultados de esta investigación, son el insumo principal para el desarrollo de una investigación proyecto PIE titulada “Estilos de liderazgo en instituciones de educación media en la ciudad de Ibagué, una mirada desde el modelo de los 4 marcos” debido a que permite analizar variables sociodemográficas en relación con los estilos de liderazgo de los cuatros marcos (liderazgo estructural, liderazgo de Recurso humano, liderazgo simbólico y liderazgo político); de igual manera contribuye a identificar los factores más predominantes frente al liderazgo que ejercen los rectores y coordinadores de los colegios de la ciudad de Ibagué, según el modelo de Bolman; este es el punto de partida para continuar con una segunda parte de la investigación y establecer estrategias que permitan fortalecer esas competencias de liderazgo y hacer de sus organizaciones competitivas y sostenibles. Es de resaltar, que la misma aporta al desarrollo de personas con características esenciales de liderazgo, que se requieren en la gestión del personal para establecer propuestas que permitan fortalecer el liderazgo como estrategia de crecimiento empresarial.

This consultant was asked to look into the possibility of so-called “scission neutrons”, that is neutrons emitted in the fission process before full acceleration of the two large fragments. Results of new measurements that measure neutron emission relative to the direction of the fragments are available, and the quantification of scission neutron has been derived from these data. More detailed models of the fission process are also new. It is however the conclusion of this consultant that the existence of scission neutrons has not been proven from experimental data. Further, the possibility of some pre-equilibrium process producing high energy neutrons in spontaneous fission or in fission induced by low energy neutrons is also not confirmed. Recommendations are made, with a principal one being that detailed modelling of neutron scattering in the analysis of experimental data is of utmost importance. The data base that pertains to scission neutrons and pre-equilibrium neutrons from the fission process is limited, although the recent experimental data could be mined for more information .

El liderazgo femenino, entendido como la participación de las mujeres en la toma de decisiones económicas, se ha venido incrementando levemente en los últimos años, tanto a nivel mundial como en la región latinoamericana. No obstante, aún existe una brecha de liderazgo considerable con respecto a los hombres. Por ejemplo, en la región CID, las mujeres apenas ocupan menos de una cuarta parte de los puestos de gerencia principal en las empresas (22.4%) y tan solo en un 35% de las firmas, las mujeres participan en las juntas directivas. Evidencia empírica, usando técnicas econométricas, hallada en la región sugiere que la probabilidad de que las mujeres dirijan empresas se relaciona positivamente con la presencia de mujeres entre los propietarios, y negativamente con las firmas sean grandes o se dediquen a actividades en el subsector de metales, maquinaria y equipos. Utilizando el método de descomposición de Oaxaca-Blinder, se encuentra que para los países CID, existe una brecha total de 30% en la productividad de las firmas dirigidas por las mujeres con relación a las gerenciadas por hombres, lo cual está asociado a una menor participación de capital extranjero, menor gasto en seguridad, menor formalización desde el inicio de las operaciones de la firma, menor inversión en capital humano (capacitación), y menor edad de las empresas.

Executive Summary Education and health are interrelated. Education is positively associated with health behaviours, life expectancy, and morbidity and is an established social determinant of health. However, for learning to occur, children must be healthy, ready, and able. All too frequently, ill-health compromises learning and school attendance, leading to long-term negative consequences throughout life. Positioning health services alongside schools, and upholding collaborative intersectoral working, has positively impacted education and health outcomes for children and young people internationally. In New Zealand, however, the education and health sectors work in silo with no formal directive to do otherwise. Achieving and maintaining inter-sectoral collaboration is therefore challenging, piecemeal, and time-consuming. It is further complicated by system structure, competing priorities, and differing perspectives of the two sectors and those working within them. This multicase study of three urban primary schools explored the relationship between school staff and health services and the influences on this relationship. The study focused on the experiences and perspectives of participant principals, teachers, teacher aides, administrative staff, and Special Educational Needs Co-ordinators (SENCO) working with health services. Data were collected through semi-structured interviews, observations, and reviews of staff professional development and other related learning opportunities. The findings highlighted the uncoordinated working relationship between the health and education sectors in New Zealand and the current barriers to achieving workable, inter-sectoral collaboration. This study has confirmed the need for better inter-sector alignment while acknowledging the interdependence of both sectors. Collaborative inter-sectoral work between education and health is critical. The findings from this study recommend developing and implementing a national policy enabling these sectors to work together to achieve optimal education and health outcomes for children and young people in New Zealand.

The starting point of the research project was the hypothesis that the "principle of proportionality", which is fundamental to law, is related to the "economic principle". The resulting methodological similarities were intended to enable a cross-disciplinary bridge to be built, which would allow the findings of economic analysis to be made fruitful for legal issues. This was practically tested in three study areas in order to be able to better classify the performance of the analytical tools. The foundations for interdisciplinary bridge building are found in the rational-choice paradigm. In both disciplines, this paradigm calls for an examination of the relationship between the purpose-means-relations: among the design options under consideration, the one must be selected that is expected to be as (freedom- or resource-) sparing as possible, in other words, the most "waste-free" solution to the control problem.The results of the economic analysis can thus be "translated" in such a way that, within the framework of "necessity", they support the search for control instruments that are equivalent to the objective but less disruptive. supports. The core of the positive economic analysis is the motivational situation of those actors whose behavior is to be influenced by a changed legal framework. In this context, the classical behavioral model of economics proved to be too limited. It therefore had to be developed further in line with the findings of research in institutional economics into homo oeconomicus institutionalis. This behavioral model takes into account not only the consequentialist, strictly situational utility orientation of the model person, but also other factors influencing behavior, including above all those that are institutionally mediated. If one takes the motivational situation of the actors as the starting point for policy-advising design recommendations, it becomes apparent that an understanding of governance dominated by imperative behavioral specifications leads to less favorable results, both in terms of the degree to which goals are achieved and in terms of the freedom-impairing effects, than a mixed-instrument approach oriented toward the model of "responsive regulation." According to this model, the law can no longer simply assume that those subject to the law will "obediently" execute the legal commands. It must ask itself what other factors determine behavior and under what boundary conditions changes can be expected in the direction of the desired behavior. For this reason, too, it must engage with the cognitive program of the behavioral sciences. This linkage opens up new perspectives for interdisciplinary research on the consequences of laws.