When and Why is the Rubberstamp of the European Union Insufficient? - Caveats to Systems on the Road towards the European Union

Abstract

Due to the principle of subsidiarity, European Union law is inherently incomplete. Hence, neither the transposition of the acquis communautaire, nor the law or impetuses coming from Brussels is a panacea to numerous real-life legal, economic or political problems not being focused upon by the Union. This is often forgotten not just by countries approaching the Union but also by the Member States. The article is a review of a number of such legal and economic challenges faced in particular by Central European and ex-Yugoslav successor states, from such new transplants as franchise through risks of the pyramid and Ponzi schemes from the realms of financial law.

Keywords: European Union law, secured transactions law, corporate governance, self-help, financial law, comparative law

JEL Classification: K12, K22, K23, K42