Il principio della solidarietà tra generazioni tra mutualizzazione dei debiti e divieto di finanziamento monetario

The article addresses, from a legal perspective, intergenerational solidarity, an issue connected to the reach of the constitutional guarantees provided for tomorrow’s citizens. Firstly, it outlines the conceptual framework and the historical roots of this notion. After that, it investigates the case-law of the Italian Constitutional Court and of the Court of Justice of the EU and the extent to which it is possible to base on it a broad interpretation of the principle under consideration, one that requires limiting the recourse to borrowing to protect future generations from over-indebtedness. The article then considers the ban on monetary financing and its (limited) effect on preventing extremely loose monetary policies by the European Central Bank; it is submitted that, on balance, inflation is detrimental to future generations. Finally, adopting a long and very long-term perspective in preserving sustainable public finances, the article concludes by advocating for the extension of the scope of the principle of intergenerational solidarity to encompass a strong constitutional protection against public debt and monetary inflation.