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This Chapter provides an illustration of the trends and dynamics discussed in the previous chapters through a comprehensive and contextualised examination of the specific, but paradigmatic, Greek debt crisis, arguing that, in this case as well, both the responses devised by national and supranational institutions, and their scrutiny by some human rights monitoring bodies in particular, seem to reflect an increasingly neoliberalised conception of human rights and of the debt-ESR relationship
This Chapter critically reviews the existing international law on economic ad social rights, namely the International Covenant on Economic, Social and Cultural Rights (ICESCR), and it outlines existing standards on sovereign debt and human rights. Considering the surviving peculiarities of the ICESCR (due, inter alia, to the historical contingencies that influenced its elaboration in the 1950s-60s) and the nature of the economic and fiscal policy measures that have been generally recommended over the years by its monitoring body, the UN Committee on Economic, Social and Cultural Rights (CESCR), this Chapter challenges the purported economic neutrality of the Covenant (and, more generally, of the international ESR regime) as currently interpreted. Furthermore, it highlights the increased influence of neoliberalism on this legal framework’s post-crisis developments, especially the more recent (re)interpretation by the CESCR of the prohibition of retrogressive measures.
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