EU law after the financial crisis / edited by Jessica Schmidt, Carlos Esplugues, Rafael Arenas García.

Format:

Book

Contributor:

Schmidt, Jessica, 1979- editor.

Esplugues Mota, Carlos, editor.

Arenas García, Rafael, editor.

Universität Bayreuth, organizer.

Language:

English

Subjects (All):

Law--European Union countries--Congresses.

Law.

Financial crises.

European Union countries.

Financial crises--European Union countries--Congresses.

Genre:

Conference papers and proceedings.

Physical Description:

1 online resource (xviii, 333 pages) : digital, PDF file(s)

Place of Publication:

Cambridge : Intersentia, 2016.

System Details:

text file

PDF

Summary:

The financial crisis has literally stress tested the European Union and indeed continues to do so. It has already laid bare many fundamental issues and conundrums of the European Union and the European Union's legal system that had been waiting to be seriously addressed for quite a number of years.This book examines the consequences of the financial crisis for European Union law not only with respect to various specific areas of the law, namely contract law, company law, capital markets law, banking law, competition law, tax law, insolvency law, but also with respect to fundamental issues regarding the role and function of the European Union and European law.

Contents:

Part I Rescue Mechanisms and Monetary Policy

The Interplay Between EU Law and International Law to Set Up the Eurozone Rescue Mechanisms / Antonio Pastor Palomar Palomar, Antonio Pastor 5

1 Introduction: a Body of Law in the Making Against an Ambivalent Framework 5

2 The Greek Financial Conundrum: the Difficult Fulfilment of its International Obligations 8

3 The European Financial Stabilisation Mechanism, the European Financial Stability Facility 12

4 The European Stability Mechanism Together with the "Fiscal Compact" 18

5 Conclusions: Urgency and Complexity of the Legal Measures 22

Monetary Policy and Private Pensions / Markus Roth Roth, Markus 25

1 Central Banks and Full Employment 25

2 The Commitment of the ECB to Article 15 of the Charter of Fundamental Rights of the EU 27

3 Strengthening Occupational Pensions 28

Part II The Impact of the Financial Crisis on the Banking Sector and Capital Markets

Financial Crisis and European Company and Capital Markets Law / Jessica Schmidt Schmidt, Jessica 33

1 Financial Crisis and European Capital Markets Law 34

2 Financial Crisis and European Company Law 42

3 Conclusion 45

CoCo Bonds as a Means of Reducing Systemic Risk and their Role within New Regulatory Regimes / Henrik Gildehaus Gildehaus, Henrik 47

1 Introduction 47

2 CoCo Bonds: a Brief Insight into their Basic Features 49

3 CoCo Bonds and Regulatory Capital Regimes in the EU 55

4 CoCo Bonds and Resolution Regimes 57

5 TLAC/GLAC 60

6 Risks Associated with CoCo bonds 61

7 Conclusions 62

Is EU Financial Law Overly Complex? / Matthias Lehmann Lehmann, Matthias 65

Part III The Financial Crisis and Tax Law

The European Crises as Tax Crises / Agustin J. Menéndez Menéndez, Agustin J. 71

1 The European Tax trompe-l'oeil 72

2 Integration through Fiscal Consolidation: Taxes in the Indebted State 75

3 Excursus: the Three Capital Sins of European Lawyers 87

4 Reconciling (Again) Integration and the Social and Democratic Tax State 89

5 Conclusions 93

A Common Tax Policy for Europe / André Meyer Meyer, André 97

1 The Lack of Integration in the Field of Direct Taxation 97

2 Tax Competition, Financial Crisis and the Crisis of the EU 99

3 Current Problem Areas and Possible Responses 102

4 Summary 106

Part IV The Financial Crisis, Consumers and Consumer Law

Is European Private Law Going Through a Crisis? The Current Situation of European Private Law after the Financial Crisis / Phillip Hellwege Hellwege, Phillip 109

1 Introduction 109

2 European Private Laws and the Financial Crisis 110

3 European Private Law and the Financial Crisis 114

4 Conclusion 116

Financial Crisis and General Contract Law / Ann-Chantal Gressler Gressler, Ann-Chantal 117

1 Introduction 117

2 Financial Crisis 118

3 New Financial Supervisory System in the European Union after the Financial Crisis 118

4 Effects of Financial Regulation 122

5 Conclusion 129

Stress-Testing EU Law in the Field of Consumer Redress / Guillermo Palao Moreno Moreno, Guillermo Palao 133

1 Introduction 133

2 Financial Crisis and Justice to Consumers in the Internal Market 134

3 The Failures of the Jurisdictional Approach 135

4 The Limits of the European Small Claims Procedure for Consumers 136

5 The Difficulties Linked to Cross-Border Collective Actions for Consumers 138

6 Support for ADR and ODR Schemes 140

7 Assessment 144

Stress Testing of European Law of Consumer Jurisdiction. Coherence of the Existing Rules and their Impact on the Level of Consumer Protection / Malte Kramme Kramme, Malte 147

1 Introduction 147

2 Overview of Consumer Jurisdiction in EU and German Law 149

3 Harmonised Consumer Jurisdiction as an Instrument of Consumer Protection? 154

4 Conclusion 159

Part V The Financial Crisis and Competition Law

Rethinking Competition Law after the Financial Crisis / Rupprecht Podszun Podszun, Rupprecht 163

1 Enforcement Activities before the Crisis 165

2 Enforcement Activities after the Crisis 172

3 Reforming Rules 181

4 Summary 186

Merger Control and the Financial Crisis. Rescue Mergers and the Failing Firm Defence / Marius Leber Leber, Marius 187

1 Introduction 188

2 European Merger Control Regime 188

3 Final Decision and Remedies 192

4 Merger Control During the Financial Crisis 192

5 Summary 208

Part VI The Financial Crisis, Restructuring and Insolvency Law

Universal versus Individual Transfers of Assets and Liabilities. A Conflict-of-Laws Perspective / Francisco Garcimartín Alférez Alférez, Francisco Garcimartín 211

1 Introduction 211

2 Individual versus Universal Transfer of Assets 212

3 Conflict-of-Law Problem 215

4 Special Rules for Universal Transfers by Operation of Law 219

5 Conclusion: Formal Proposal 225

Financial Crisis and European Insolvency Law / Michael F. Müller Müller, Michael F. 227

1 Introduction 227

2 Financial Markets and Insolvency Law 228

3 Real Markets and Insolvency Law 231

4 State Insolvency Law 233

5 Conclusion 234

International Arbitration and vis attractiva concursus / Manuel Penades Fons Fons, Manuel Penades 237

1 Open Questions and the Role of EU Law 237

2 The Current Rules 239

3 The Apparent Rule in the EIR and the Elektrim v. Vivendi Case 241

4 Vis attractiva concursus in International Litigation 243

5 The Apparent Implications for Arbitration 245

6 Arbitration Agreements as Contracts and the General Rule of Article 4(1) EIR 247

7 The Details of the Rule 249

8 Final Remarks 251

Part VII The Social Dimension of the Financial Crisis and Eu Citizenship

Reflections on the Social and Human Dimension of the Economic and Financial Crisis in the European Union / Isabel Lirola Lirola, Isabel 255

1 Introduction 255

2 Bailout Measures and Protection of Fundamental "Social" Rights 256

3 Citizenship of the Union and Immigration 258

4 Conclusion 261

New Developments on the Free Movement of Persons in the European Union in a Time of Crisis. Eroding the European Citizenship? / Magdalena Martín Martínez Martínez, Magdalena Martín 263

1 Introductory Remarks 264

2 Some Brief Reflections on the Current Crisis as a Starting Point 264

3 New Developments Restricting the Right to Free Movement of Persons 267

4 Some Factual Counter-Arguments and a Legal Paradox 272

5 Tentative Conclusions: to What Extent are these New Developments Eroding EU Citizenship? 274

Part VIII Reflections on the Impact of the Financial Crisis on the General European Legal Framework and the Fundamental "European Idea"

Legal Certainty after the Crisis. The Limits of European Legal Imagination / Pablo Martin Rodriguez Rodriguez, Pablo Martin 279

1 The New Parameters of Legal Certainty after 2007 280

2 The European Legal Imagination: the EU Legal Response to the Crisis 287

3 The Limits of European Legal Imagination 293

4 Conclusion 299

The New Role of fudges in the EU. Going Back to the Middle Ages / Rafael Arenas García García, Rafael Arenas 301

1 Introduction 301

2 Courts and Law 304

3 Multiple leges fori 309

4 An Old New Approach 313

5 The New World 315

Exploring the European Crisis's Political Discourse. Europe as a Consciousness, Europe as a Narrative / Paloma García Picazo Picazo, Paloma García 317

1 Europe: an Objective Social Space Facing the Prophecies of its "Crisis" 318

2 Tire Implicate Order of Surveys: What Development of What European Consciousness? 320

3 The Explicate Order of the European Narrative: Implied Subjects and Explicated Objects 322

4 The Discourse of Truth in the Political Order: Credulity - Credit -Credibility 323

5 From Europe's Mortal Crisis to the chanson de geste of its Propaganda 326

6 The Crisis of Europe or a Crisis in Europe? Extracting Some Order from the Noise 330

Testing the Stress of the EU: Financial Crisis or EU Law in Crisis? / Volker Wiese Wiese, Volker 333.

Notes:

Title from publisher's bibliographic system (viewed on 05 Jan 2018).

Other Format:

Print version:

ISBN:

9781780685205

Access Restriction:

Restricted for use by site license.