The Concept of an Obstacle to Intra-EU Capital Movement in EU Law

Thomas Horsley

in From Single Market to Economic Union

Published in print June 2012 | ISBN: 9780199695706
Published online September 2012 | e-ISBN: 9780191741302 | DOI:
The Concept of an Obstacle to Intra-EU Capital Movement in EU Law

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This chapter surveys the Court of Justice's approach to defining what constitutes an obstacle to intra-EU capital movement. As is true across the Treaty provisions on intra-EU movement, the scope attributed to this term has a direct impact on the distribution of competence between the Member States and Union for the regulation of the internal market. This chapter argues that the case law on obstacles to intra-EU capital movement is remarkable largely only for its similarity with the other Treaty freedoms. However, this does not mean that the jurisprudence is problem-free. On the contrary, this chapter argues that aspects of the case law on capital movements can be located within a broader, more controversial trend that is emerging across the Treaty freedoms. This refers to the Court's use of the Treaty freedoms as tools to scrutinize non-discriminatory national legislation that simply characterizes the conditions for economic activity within Member States.

Keywords: Free Movement of Capital; golden shares; market access; Keck; intra-EU movement

Chapter.  10701 words. 

Subjects: EU Law

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