PRIMACY OF APPLICATION
While some have praised the €800bn NextGenerationEU (NGEU) recovery plan as the starting point for a European fiscal union, others criticise it for exactly this reason, calling it a de-facto communitisation of debts, disincentivising overindebted countries to apply any austerity measures whatsoever. As is so often the case, courts will rule on the legality of this measure. But what if European and national laws come into conflict – which will take precedence? Dr. Alpay Soytürk, Chief Regulatory Officer at Spectrum Markets helps bring clarity to this thorny topic.