The Development of Public Private Partnership Projects - Impact on the In-House Counsel
Ouahida Bendjedou, Senior Legal Counsel, Bouygues Group
The development of science, technology and economic growth have always been a leitmotiv for many countries to prove they are wealthy and growing countries, these progresses having often been expressed towards highly equipped public infrastructure facilities and efficient public services provided.
However, the race against the continuing development of new technologies, and the need for public authorities to meet these new technologies requirements through their public infrastructure facilities, led a lot of countries to a serious level of indebtedness which grew rapidly during the macroeconomic dislocation of the 1970s and 1980s and which could have not been covered by the sole public revenues.
In Europe, with the entry into force of the Maastricht Treaty and the adoption of the euro as the unique currency, the European Union Member states have been asked to conform to an economic and budget discipline, particularly by reducing their public debt below 60 % of their gross domestic product.
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