Introduction  The concept of “checks and balances” is a system of separation of power by ensuring that each branch of government such as legislative, executive and judiciary would have exclusive control over its sphere of responsibility, thus precluding any of them from concentrating power. Contemporary states have widely different political system, even if they belong to a large family of...

I. Introduction  In the last decade we have witnessed one of the greatest economic crises  in the modern history, which provoked numerous disputes and proposals looking for the way how to better counteract its devastating consequences. Since 2007-2008, some of those have worked and some failed, but the underlying tune is clear: politics and economy are indivisibly connected. Namely, democracy as...

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