Secured Credit and the Internal Market: The Fundamental Freedoms and the EU's Mandate for Legislation
19 Pages Posted: 4 Mar 2008
This paper discusses the competence of the European Community to provide measures with respect to security interests which are vested in movables. First, it is elaborated whether Article 95 EC provides the power to harmonize national rules concerning security vested in movables. Secondly, the question is raised whether Article 308 EC provides a power to create a European Security Interest. Both questions are answered affirmatively. Subsequently, these two issues are placed within the context of the Common Frame of Reference process, which the European Commission has started in the area of contract law. In this respect it should be noticed that the European Commission focuses mainly on 'pure' contract law rather than on security interests vested in movables. This is not likely to change in the near future.
Keywords: european contract law, security interests, movables, competence
JEL Classification: K10, K11, K12
Suggested Citation: Suggested Citation