Eurozone Collective Action Clauses and Specialised Agencies of the United Nations as International Organisations: Do CACs Constitute an Expropriation under International Law?
Bibliographic record
Abstract
In February 2012, Eurozone Member States signed a modified version of the Treaty Establishing the European Stability Mechanism (ESM). This convention provides, inter alia, for the mandatory inclusion of standardised and identical CACs in all new Eurozone sovereign bonds from 1 January 2013. A sub-committee of the Economic and Financial Committee on EU Sovereign Debt Markets developed and published the terms of mandatory CACs on 26 March 2012 (the “Model CAC”). As a result, from 1 January 2013, Eurozone sovereign bond issuers will be obliged to include the Model CAC in bonds with a maturity greater than one year, irrespective of their governing law. The Model CAC will apply to both international and domestic issue. CACs in future Eurozone sovereigns are beyond the will of the issuing State. Can this excuse countries from obligations arising from instruments such as the Convention of the Specialised Agencies of 1947?
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.013 | 0.042 |
| Meta-epidemiology (narrow) | 0.001 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.002 | 0.003 |
| Science and technology studies | 0.003 | 0.008 |
| Scholarly communication | 0.013 | 0.009 |
| Open science | 0.001 | 0.003 |
| Research integrity | 0.009 | 0.006 |
| Insufficient payload (model declined to judge) | 0.008 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".