Nicos C. Alivizatos, professor of law, University of Athens; and partner, Alivizatos-Kiousopoulou and Partners.
Abstract: The recent deficit crisis has posed once again the question of who decides in last resort on important matters in modern democracies: the executive, bureaucrats, parliament or judges? Beyond its institutional aspects, the question raises important philosophical and moral issues. To what extent can elected officials bind the freedom of forthcoming generations to decide on their own welfare? What are the best institutions to stop elected majorities from endangering their country’s future?