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As products have become more complex in the digital age, the need for a new directive on liability of defective products has arisen. The new directive will revise the existing Product Liability Directive, adopted nearly 40 years ago in 1985. The directive brings the European Union's product liability regime up to speed with the digital age, circular economy business models and global value chains by ensuring that consumers receive compensation for defective products, including those manufactured ...

This in-depth analysis reviews the Debt Sustainability Analysis (DSA) that guides the implementation of the new Economic Governance Framework. It evaluates the adequacy of the methodology, with a focus on the changes introduced in the DSA to make it fit for the multi-annual character of the framework. While the DSA is not far from the state-of-art, the way the framework handles uncertainty is suboptimal. The study notes a few other areas where the analysis could be improved, namely potential output ...

Online commerce is a defining feature of the modern world. It opens up opportunities for consumers and businesses alike. For consumers, it can mean a wider choice of goods and services at cheaper prices. For business, it offers new ways to reach larger markets. The borderless nature of online commerce means that, today, such opportunities within the EU are also open to businesses from elsewhere, and this phenomenon has been on the rise in recent years. Many consumers are familiar now with the advantages ...

This paper discusses issues with using a DSA framework as a fiscal rule anchor. It introduces key concepts to guide the reader's understanding and highlights concerns about numerous assumptions that are inevitable in DSA calculation. The paper highlights structural issues, including asymmetry in how megatrends of aging, environmental change and a changing security and defence needs are incorporated into the framework.

Article 22 of the Treaty on the Functioning of the European Union (TFEU) establishes the right of mobile EU citizens 鈥� i.e. those residing in a Member State of which they are not nationals 鈥� to stand as candidates in elections to the European 合法博彩网站 and municipal elections in the Member State of residence under the same conditions as nationals of that Member State. In two closely linked judgments, the Court of Justice of the European Union (CJEU) ruled that this included mobile EU citizens' right ...

This paper argues that the debt sustainability methodology in the EU new economic governance framework, while analytically sound, faces major implementation challenges. Primary among these is the reliance on a non-observable variable (the volatility of future debt-to-GDP ratios) that must be estimated based on ad hoc procedures that may affect significantly the required decline in the debt ratio after the end of the adjustment period and, hence, the primary surplus that a Member State needs to achieve ...

Despite considerable progress towards a Banking Union in the euro area, banks in the EU continue to be subject to widely varying insolvency law as applied to their lending customers. This paper provides evidence that bank interest margins tend to be higher in countries with weaker loan enforcement. Higher bank interest margins are a sign of less efficient bank intermediation, and hence the evidence of this paper suggests that bank intermediation is less efficient in countries with weaker loan enforcement ...

In most countries in the European Union (EU) and in the rest of the world, debt is treated more favourably from a tax perspective than equity, with interest payments on loans generally being tax deductible. In contrast, costs relating to equity financing, such as dividends, are mostly non-tax deductible. This unequal treatment of debt and equity leads to a bias towards debt in businesses' investment decisions and can lead to high levels of indebtedness in the EU corporate sector. On 11 May 2022, ...

The EU has established over 40 regimes of sanctions against third countries, entities, and legal and natural persons. EU sanctions include arms embargoes, import and export bans, restrictions on banking services, freezing of funds and economic resources, and travel bans. While the adoption of EU sanctions is centralised at the EU level, responsibility for their implementation and enforcement lies with the Member States. The significant differences between national systems, particularly in terms of ...

This document is part of a series of Comparative Law studies that analyze the freedom to conduct a business in different legal orders around the world. After a brief historic introduction and a presentation of applicable legislation and case law, the content, limits and possible evolution of this freedom are examined. The subject of this study is the United States鈥� federal legal system. The United States鈥� Constitution does not grant an express right to freely conduct or operate a business. To the ...