scholarly journals Money Laundering and Central Bank Governance in The European Union

2020 ◽  
Vol 23 (2) ◽  
pp. 509-533
Author(s):  
Panicos Demetriades ◽  
Radosveta Vassileva
Keyword(s):  
European Union ◽  
Member State ◽  
Central Bank ◽  
Money Laundering ◽  
Political Corruption ◽  
Central Banks ◽  
The European Union ◽  
Terrorist Financing ◽  
Final Destination ◽  
The Eu

ABSTRACT Dirty money is often a by-product or a symptom of political corruption in the jurisdictions in which it originates. It can also spread corruption and erode democracy on its journey to its final destination. This typically involves multiple jurisdictions and is the reason why it is so hard to detect. Recently, a series of money laundering scandals have highlighted weaknesses in the anti-money laundering and counter-terrorist financing (AML/CFT) framework of the European Union (EU), the implementation of which remains the responsibility of Member States. The paper argues that EU’s defences against money laundering have been weakened partly reflecting a little-known erosion in the independence of Member State central banks, which are often the AML supervisors. It puts forward a number of new proposals to strengthen the governance and AML/CFT implementation in the EU.

The European Central Bank

2018 ◽  
Author(s):  
Chiara Zilioli ◽  
Phoebus Athanassiou
Keyword(s):  
European Union ◽  
Central Bank ◽  
Monetary Union ◽  
European Central Bank ◽  
Central Banks ◽  
The European Union ◽  
European Central ◽  
European System ◽  
The Eu

The provisions on Monetary Union (MU), of the Treaty on the functioning of the European Union (TFEU or the Treaty), as well as the Statute of the European System of Central Banks and of the European Central Bank (the Statute), are important in their own right, and are amongst those from which any student of the European Union (EU) can learn a great deal with regard to the EU.

scholarly journals Polish “Entrepreneur” and EU “Undertaking”: Multilingualism and Differences in Legal Identification

2017 ◽  
Vol 52 (1) ◽  
pp. 57-71
Author(s):  
Maciej Etel
Keyword(s):  
European Union ◽  
Member State ◽  
Precise Determination ◽  
Eu Law ◽  
The European Union ◽  
Economic Sphere ◽  
Polish Law ◽  
Legal Identification ◽  
The Eu

Abstract The European Union and its member-states’ involvement in the economic sphere, manifesting itself in establishing the rules of entrepreneurs’ functioning – their responsibilities and entitlements – requires a precise determination of the addressees of these standards. Proper identification of an entrepreneur is a condition of proper legislation, interpretation, application, control and execution of the law. In this context it is surprising that understanding the term entrepreneur in Polish law and in EU law is not the same, and divergences and differences in identification are fundamental. This fact formed the objective of this article. It is aimed at pointing at key differences in the identification of an entrepreneur between Polish and EU law, explaining the reasons for different concepts, and also the answer to the question: May Poland, as an EU member-state, identify the entrepreneur in a different way than the EU?

A Permanent Constitutional Assembly

2020 ◽  
pp. 197-214
Author(s):  
Markus Patberg
Keyword(s):  
European Union ◽  
Member State ◽  
Dual Role ◽  
The Other ◽  
The European Union ◽  
Constituent Power ◽  
Institutional Solution ◽  
The Eu

This chapter presents an institutional proposal for how citizens could be enabled—in the dual role of European and national citizens—to exercise constituent power in the EU. To explain in abstract terms what an institutional solution would have to involve, it draws on the notion of a sluice system, according to which the particular value of representative bodies consists in their capacity to provide both transmission and filter functions for democratic processes. On this basis, the chapter critically discusses the proposal that the Conference of Parliamentary Committees for Union Affairs of Parliaments of the European Union (COSAC) should transform itself into an inter-parliamentary constitutional assembly. As this model allows constituted powers to continue to operate as the EU’s de facto constituent powers, it cannot be expected to deliver the functions of a sluice system. The chapter goes on to argue that a more convincing solution would be to turn the Convention of Article 48 of the Treaty on European Union into a permanent constitutional assembly composed of two chambers, one elected by EU citizens and the other by member state citizens. The chapter outlines the desirable features of such an assembly and defends the model against a number of possible objections.

11. Financial crime

2019 ◽  
pp. 420-451
Author(s):  
Jeremy Horder
Keyword(s):  
European Union ◽  
Money Laundering ◽  
Criminal Law ◽  
Financial Crime ◽  
The European Union ◽  
Home Office ◽  
Corporate Activity ◽  
The Uk ◽  
The Impact ◽  
The Eu

This chapter examines three major examples of financial crime: fraud, bribery, and money laundering. The importance of financial crime, and of vigorous prosecution policies in relation to it, should not be underestimated. Fraud accounts for no less than one third of all crimes captured by the Crime Survey for England and Wales. The European Union Parliament has estimated that corruption costs the EU between €179 and €990 billion each year. Finally, the Home Office estimates that the impact of money laundering on the UK economy is likely to exceed £90 billion. An understanding of these crimes, and in particular the way that they reflect corporate activity, is nowadays essential to the study of criminal law.

8. European Actions

2020 ◽  
pp. 180-208
Author(s):  
Robert Schütze
Keyword(s):  
European Union ◽  
Member State ◽  
Judicial Review ◽  
Strict Sense ◽  
European Law ◽  
The European Union ◽  
Enforcement Action ◽  
Court Of Justice ◽  
Judicial Actions ◽  
The Eu

This chapter describes the direct enforcement of European law in the European Courts. The judicial competences of the European Courts are enumerated in the section of the Treaty on the Functioning of the European Union (TFEU) dealing with the Court of Justice of the European Union. The chapter discusses four classes of judicial actions. The first class is typically labelled an ‘enforcement action’ in the strict sense of the term. This action is set out in Articles 258 and 259 TFEU and concerns the failure of a Member State to act in accordance with European law. The three remaining actions ‘enforce’ the European Treaties against the EU itself. These actions can be brought for a failure to act, for judicial review, and for damages.

6. Free movement of persons

2020 ◽  
pp. 121-153
Author(s):  
Matthew J. Homewood
Keyword(s):  
European Union ◽  
Member State ◽  
General Principle ◽  
Internal Market ◽  
Free Movement ◽  
The European Union ◽  
Scope Of Application ◽  
Free Movement Of Persons ◽  
The Right ◽  
The Eu

This chapter discusses the law on the free movement of persons in the EU. Free movement of persons is one of the four ‘freedoms’ of the internal market. Original EC Treaty provisions granted free movement rights to the economically active—workers, persons exercising the right of establishment, and persons providing services in another Member State. The Treaty also set out the general principle of non-discrimination on grounds of nationality, ‘within the scope of application of the Treaty’. All these provisions are now contained in the Treaty on the Functioning of the European Union (TFEU). Early secondary legislation granted rights to family members, students, retired persons, and persons of independent means. The Citizenship Directive 2004/38 consolidated this legislation.

Chinese Curses, Lawyers’ Dreams, Political Nightmares and New Dawns: Interesting Times for the UK’s Relationship with the EU

2013 ◽  
Vol 15 ◽  
pp. 83-99 ◽  
Author(s):  
Nicholas Forwood
Keyword(s):  
European Union ◽  
Member State ◽  
The European Union ◽  
Judicial Cooperation ◽  
Opt Out ◽  
Scottish Independence ◽  
The Uk ◽  
Criminal Matters ◽  
The Eu ◽  
End Results

AbstractThis chapter aims to explore some challenges that are likely to arise in the context of the UK’s present and future relationships with the EU. Three aspects come under scrutiny, namely the global opt-out available for the UK in the field of police and judicial cooperation in criminal matters (Protocol 36 to the Treaty on the Functioning of the European Union (TFEU)), the 2014 referendum on Scottish independence and the contemplated 2017 referendum on whether the UK should remain an EU Member State. The chapter stresses not only the importance of restoring objectivity in the debates surrounding these issues, but also the necessity of taking due account of the uncertainties that these processes unavoidably entail as to their end results for both the UK and Scotland.

BENEFITS FOR EU CITIZENS: A U-TURN BY THE COURT OF JUSTICE?

2015 ◽  
Vol 74 (2) ◽  
pp. 195-198 ◽  
Author(s):  
Steve Peers
Keyword(s):  
European Union ◽  
Social Welfare ◽  
Member State ◽  
Eu Law ◽  
The European Union ◽  
Welfare Benefits ◽  
Court Of Justice ◽  
Uk Government ◽  
The Uk ◽  
The Eu

THE recent judgment of the Court of Justice of the European Union in the case of Dano (ECLI:EU:C:2014:2358) clarified some important points as regards access to social welfare benefits by EU citizens who move to another Member State. Furthermore, the judgment could have broad implications for any attempts by the UK Government to renegotiate the UK's membership of the EU, which is likely to focus on benefits for EU citizens coming to the UK. This note is an updated and expanded version of my analysis on the EU Law Analysis blog: http://eulawanalysis.blogspot.co.uk/2014/11/benefit-tourism-by-eu-citizens-cjeu.html.

scholarly journals Why withdrawal from the European Union is undemocratic

2017 ◽  
Vol 9 (3) ◽  
pp. 436-465 ◽  
Author(s):  
Tore Vincents Olsen ◽  
Christian F. Rostbøll
Keyword(s):  
European Union ◽  
United Kingdom ◽  
Member State ◽  
Individual Member ◽  
The European Union ◽  
The United Kingdom ◽  
The Status ◽  
Political Units ◽  
Article 50 ◽  
The Eu

The Lisbon Treaty from 2009 introduced the possibility for individual member states to withdraw from the European Union (EU) on the basis of a unilateral decision. In June 2016 the United Kingdom decided to leave the EU invoking article 50 of the treaty. But is withdrawal democratically legitimate? In fact, the all-affected principle suggests that it is undemocratic for subunits to leave larger political units when it adversely affects other citizens without including them in the decision. However, it is unclear what the currency of this affectedness is and, hence, why withdrawal would be undemocratic. We argue that it is the effect of withdrawal on the status of citizens as free and equal that is decisive and that explains why unilateral withdrawal of subunits from larger units is democratically illegitimate. Moreover, on the ‘all-affected status principle’ that we develop, even multilaterally agreed withdrawal is undemocratic because the latter diminishes the future ability of citizens to make decisions together regarding issues that affect their status as free and equal. On this basis, we conclude that it is undemocratic for a member state such as the United Kingdom to withdraw from the EU.

scholarly journals The European Court of Justice and the Policy Process

2018 ◽  
Author(s):  
Susanne K. Schmidt
Keyword(s):  
European Union ◽  
Member State ◽  
Case Law ◽  
European Court Of Justice ◽  
The European Union ◽  
Member States ◽  
Administrative Practices ◽  
Court Of Justice ◽  
European Court ◽  
The Eu

The European Court of Justice is one of the most important actors in the process of European integration. Political science still struggles to understand its significance, with recent scholarship emphasizing how closely rulings reflect member states’ preferences. In this book, I argue that the implications of the supremacy and direct effect of the EU law have still been overlooked. As it constitutionalizes an intergovernmental treaty, the European Union has a detailed set of policies inscribed into its constitution that are extensively shaped by the Court’s case law. If rulings have constitutional status, their impact is considerable, even if the Court only occasionally diverts from member states’ preferences. By focusing on the four freedoms of goods, services, persons, and capital, as well as citizenship rights, the book analyses how the Court’s development of case law has ascribed a broad meaning to these freedoms. The constitutional status of this case law constrains policymaking at the European and member-state levels. Different case studies show how major pieces of EU legislation cannot move beyond case law but have to codify its principles. Judicialization is important in the EU. It also directly constrains member-state policies. Court rulings oriented towards individual disputes are difficult to translate into general policies, and into administrative practices. Policy options are thereby withdrawn from majoritarian decision-making. As the Court cannot be overruled, short of a Treaty change, its case law casts a long shadow over policymaking in the European Union and its member states, undermining the legitimacy of this political order.

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