Financial Markets and Societal Constitutionalism
The global financial crisis of 2008 proved that a sovereign of last
resort would always rescue the financial system from self-destruction.
In constitutional democracies, stability and change are balanced
through constitutional devices and procedures. In global finance's
realm, on the contrary, no room is left for a dialectic between stability
and change. The question of how power is distributed within the
financial system is not only intrinsically connected with the analysis of