From National Administrative Law to Globalisation: Economic Crisis, Governance and Regulated Self-Regulation: Spain

From National Administrative Law to Globalisation: Economic Crisis, Governance
and Regulated Self-Regulation

Spain

Juana Morcillo Moreno / Susana de la Sierra

Professors of Administrative Law, University of Castilla-La Mancha

In the present time of a global economic and financial crisis, both the withdrawal of the State from vast economic areas and its replacement by the self-regulating market have had a significant impact on Spanish Administrative Law. Accord­ingly, an intervention of public authorities as well as harsher regulation and an ef­fective model of market supervision are to be requested so that trust in the system can be regained. However, this intervention should not only happen through na­tional agencies but also through global bodies. In this context, the principle of co­operation is crucial in order to articulate the relationship between the new global administrative bodies and the existing ones (supranational, State, regional and local Administrations). We believe that a global regulation should consider a necessary compromise between the market and the government, between self-regulation and pub­lic regulation, all that in order to ensure that the economy goes on safely. Hence, the principles of regulated self-regulation (“autorregulación regulada”) are of particular significance: with their implementation the State does not renounce intervention in the society. Moreover, public interest can be safeguarded through them in a more effective manner than traditional instruments of intervention would allow.