ABSTRACT

This chapter explores the relation between the resilience of constitutions and the ability of legal orders to handle the financial crisis. It identifies the factors that render a constitution resilient and aims to approach the different ways constitutions reacted towards the shock of the financial crisis and the multiple challenges it created. The chapter also explores the adaptive capacity of constitutions. It examines the notion of constitutional ‘allostasis’ pinning down the mechanisms that allow constitutions to demonstrate stability through change and the factors that enhance the capacity of legal orders to recover from disasters. The chapter offers an overview of constitutional reactions toward the financial crisis. It describes the different paths towards constitutional recovery that surfaced in the financial crisis context. The resilient constitution has the capacity to maintain its core functions and integrity in the face of disaster. Constitutional resilience adds a qualitative parameter to constitutional durability.