Kluwer Law International - Kluwer Law Online - European Business Law Review

ISSUE 1

'Future of Family Contracts, Comparative Law and European Law', Guido Alpa, Issue 1, pp. 1–13

'The Misuse of a European Company according to Article 11 of the Directive 2001/86/EC', Adam Sagan, Issue 1, pp. 15–41

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'Alternative Resolution Techniques in Banking Disputes', Mirella Pellegrini, Issue 1, pp. 43–50

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'The Approach of Conflicts of Interests in the Framework of European Business Community Law', Alain Couret, Issue 1, pp. 51–66

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'Anti-Usury and Consumer Bankruptcy Regulation – A Trade-Off? (an Attempt at Regulatory Impact Assessment)', Włodzimierz Szpringer, Issue 1, pp. 67–80

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'Quelle case: The Directive on the Sale of Consumer Goods at the European Court of Justice', Giovanna Capilli, Issue 1, pp. 81–88

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'Outsourcing in the Financial Services Industry', Alessandra Chirico, Issue 1, pp. 89–100

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ISSUE 2

'Divorce and Death in the Family Firm – A Business Law Perspective', Lars-Göran Sund, Hanna Almlöf, Kajsa Haag, Issue 2, pp. 101–118

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'Party Autonomy and Freedom of Contract Today', Guido Alpa, Issue 2, pp. 119–141

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'Should the EU be Attempting to Harmonise National Systems of Labour Law?', Phil Syrpis, Issue 2, pp. 143–163

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'Host States and Sovereign Wealth Funds, between National Security and International Law', Fabio Bassan, Issue 2, pp. 165–201

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'Comparative Law and European Harmonisation – a Match Made in Heaven or Uneasy Bedfellows?', Dagmar Schiek, Issue 2, pp. 203–225

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'International Commercial Harmonisation and National Resistance – The Development and Reform of Transnational Commercial Law and its Application within National Legal Culture', Maren Heidemann, Issue 2, pp. 227–244

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'The Cross-Border Transfer of the Seat after Cartesio and the Non-Portable Nationality of the Company', Vittoria Petronella, Issue 2, pp. 245–265

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ISSUE 3

'Editorial: International Prize in Law Awarded to Lord Bingham at the Institut de France, Paris', Mads Andenas, Issue 3, pp. 267–268

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'Liability for Executives in Russian Companies with Limited Liability and Russian Joint Stock Companies', Jonas C Heli, Issue 3, pp. 269–344

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'Current Corporate Governance Developments in Austria', Manfred Grünanger, Issue 3, pp. 345–368

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'Harmonisation in Competition Law in the Context of Globalisation', Jurgita Malinauskaite, Issue 3, pp. 369–397

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'Public Procurement Issues in the European Union', Marc Frilet, Florent Lager, Issue 3, pp. 399–412

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'The Cross-Border Transfer of Seat in European Company Law: A Deliberation about the Status Quo and the Fate of the Real Seat Doctrine', Nadja Kubat Erk, Issue 3, pp. 413–450

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'Regulators and Rules – President Obama’s Reforms vs Europe’s Reforms', Giovanna de Minico, Issue 3, pp. 451–461

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ISSUE 4

'Editorial: Remembering Lord Slynn', Mads Andenas, Issue 4, pp. 463–464

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'Global Norm Convergence: Capital Markets in U.S. and E.U. Law', Eric Engle, Issue 4, pp. 465–490

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'Bail Out Plans: Do They Really Envision State Exit and Bank Repayments? A View from a Competitive Assessment Perspective', Costanza A. Russo, Issue 4, pp. 491–517

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Costanza A. Russo, 'Bail Out Plans: Do They Really Envision State Exit and Bank Repayments? A View from a Competitive Assessment Perspective' (2010) 21 European Business Law Review, Issue 4, pp. 491–517

Since October 2008 European member States have been implementing recapitalisation and guarantee plans to support the banking sector. Such plans, although different, are based on common principles agreed at EcoFin level, stating that they should be limited in scope and time, that State involvement must be confined to the minimum, that shareholders should bear the consequences of intervention and that Governments should protect competition. In light of the special circumstances due to the current serious disturbance in the economy and in the financial sector, European Commission has provided guidance as to the framework within which the compatibility of the bail out plans with EU state aid rules could be assessed. The Commission recognised as compatible with State aid rules those plans that were: temporary, non discriminatory and that had a significant contribution from the private sector. So far, all the national plans have been considered compatible with art. 87 of the EC Treaty. However, it appears that a proper analysis of the relevant EU decisions on this matter could only be conducted over a longer term perspective. Indeed, if we look at the main characteristics of the most important European Member States measures, we could argue that the role of the State appears to be more than “temporary” and less than “profitable” for the taxpayers. Moreover, serious moral hazard problems may arise. In fact, the main concerns regard the likelihood for the State to leave the banks’ capital and the existence of incentives for the beneficiary banks to repay the measure, given that there is no expiry date nor sanctions or mechanisms to force the bank to repay. Eventually, it seems that those “compatibility decisions” may instead lead to a new financial market structure where competition would be seriously hindered and where the involvement of the State in banks’ capital and governance may not end as soon as the Commission wishes.

ISSN: 0959-6941
ID: EULR2010024

'Interpreting the Boundaries of Collective Dominance in Article 102 TFEU', Félix E. Mezzanotte, Issue 4, pp. 519–537

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'Regulation and the Role of Law in Economic Crisis', Ioannis Glinavos, Issue 4, pp. 539–557

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Ioannis Glinavos, 'Regulation and the Role of Law in Economic Crisis' (2010) 21 European Business Law Review, Issue 4, pp. 539–557

This paper contributes to the current debate on responses to the financial crisis and the role of law in paving a way out of recession, by highlighting the persistence of market-centred theories that defined the state-market relationship before the crisis. The paper begins by discussing the concept of regulation itself and discusses the extent to which the ‘credit crunch’ has shaken belief in modern capitalism. The paper then offers a discussion on the relationship of deregulation to financial crisis, arguing that there is a direct link between the receding reach of the state and market instability, drawing analogies with previous instances of market failure, like the Great Depression. On the basis of this connection, a theoretical portrayal of perceptions of the role of law in modern capitalism is attempted, where the main message is that dominant, modern perceptions of the state-market relationship allow a role for regulation but still do not recognise the state as the legitimate author of such regulation, showing a preference for market-led solutions. The paper then tests these findings against state actions in response to the ‘credit crunch’ and concludes by offering the suggestion that while the current financial crisis has shown the limitations of modern capitalism, and while it is possible that a fundamental rethink of the role of the state in the market may take place as a consequence, this rethink has yet to materialise in policy proclamations and government aspirations on a global scale.

“This financial system is no more! It has ceased to be! ‘It’s expired and gone to meet its maker! ‘It’s a stiff! Bereft of life, it rests in peace! If you hadn’t nailed ‘it to the tax payer’s perch it’d be pushing up the daisies! ‘Its metabolic processes are now ‘istory! ‘It’s off the twig! It’s kicked the bucket, it’s shuffled off its mortal coil, run down the curtain and joined the bleedin’ choir invisible!! THIS IS AN EX-FINANCIAL SYSTEM!!”

(Willem Buiter, 26 November 2008)

ISSN: 0959-6941
ID: EULR2010026

'Corporate Governance and the Importance of Societal and Cultural Factors: An Argument Against Calling Time on UK Boardroom Rules', Daniel Attenborough, Issue 4, pp. 559–572

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'Plotting the Boundaries of Associative Discrimination', Georgina Andrews, Issue 4, pp. 573–580

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ISSUE 5

'Editorial: Special Issue on the Commission’s “Single Market Review”', Arianna Andreangeli, Michael Dougan, Issue 5, pp. 581–586

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'Buying Legitimacy? The Commission’s Proposal on Consumer Rights', Thomas Ackermann, Issue 5, pp. 587–602

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'The 2007–09 Banking Crisis and the EU’s Regulatory Response', Anu Arora, Issue 5, pp. 603–627

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'The Ebb and Flow, the Doldrums and the Raging Tide: Single Market Law’s Ebb and Flow over Services of General Economic Interest, the Legal Doldrums over Services of General Interest, and the Raging Tide of Article 106(2) (ex Art 86(2)) over State Aid & Public Procurement', Dermot Cahill, Issue 5, pp. 629–662

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'The Single Market as a Global Export Brand: Exporting the Single Market', Marise Cremona, Issue 5, pp. 663–680

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'Settling Dust? Reflections on the Judgments in Viking and Laval', Niamh Nic Shuibhne, Issue 5, pp. 681–703

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'Shifting Narratives in the European Internal Market: Efficient Restrictions of Trade and the Nature of “Economic” Integration', Ioannis Lianos, Issue 5, pp. 705–760

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ISSUE 6

'EU and Marine Resource Management', Per Christiansen, Issue 6, pp. 761–782

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'The “Abuse of Rights” in EU Company Law and EU Tax Law: A Re-reading of the ECJ Case Law and the Quest for a Unitary Notion', Luca Cerioni, Issue 6, pp. 783–813

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'The Right to Adequate Housing, Family Home and the Protection of Family Investments', Maria Cecilia Paglietti, Issue 6, pp. 815–825

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'Money Laundering Regulation in Nigeria: The Problems with Enforcement, the British Connection & Global Efforts', Chioma Amobi, Issue 6, pp. 827–855

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'Beyond Tulips and Cheese: Exporting Mass Securities Claim Settlements from The Netherlands', Tomas Arons, Willem H. van Boom, Issue 6, pp. 857–883

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'European Community Law of State Aid, edited by Kelyn Bacon. (Oxford: Oxford University Press, 2009)', Pierre-Emmanuel Dupont, Issue 6, pp. 885–887

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'Independent Power Projects in Developing Countries: Legal Investment Protection and Consequences for Development, by Henrik M Inadomi. (London and The HagueHague: Kluwer Law International, 2009)', Lars Gorton, Issue 6, pp. 889–891

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'Index of Articles', Issue 6, pp. 893–896

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'Index of Authors', Issue 6, pp. 897–900

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