Rezension Zu: Miriam Anderson Und Esther Arroyo Amayuelas (Hrsg.), The Impact Of The Mortgage Credit Directive In Europe – Contrasting Views From Member States

2018 ◽  
Vol 15 (5) ◽  
pp. 247-248
Author(s):  
Jens-Hinrich Binder
2017 ◽  
Vol 13 (1) ◽  
pp. 1-37 ◽  
Author(s):  
Michiel De Muynck ◽  
Diederik Bruloot

AbstractIn February 2014 the European legislator adopted a directive on credit agreements for consumers relating to residential immovable property, which had to be implemented by the member states by March 2016. This paper starts with some fundamentals on the policy objectives underlying this so-called „Mortgage Credit Directive” (MCD) and further provides an overview of the specific regulatory framework that has been developed for credit intermediaries. This serves as the starting point for an assessment of the level of consumer protection that has been established while regulating the activities of credit intermediaries. Particular risks for credit intermediaries’ clients stem from incentives caused by the way in which they are traditionally remunerated by consumers and/or creditors. Whereas information disclosure obligations included in the MCD are an insufficient means to mitigate some potentially harmful consequences of intermediary compensation, the authors argue for the introduction of targeted remuneration regulation.


2016 ◽  
Vol 3 (4) ◽  
pp. 385-454
Author(s):  
Natalie Staff

For different reasons, such as the financial crisis of 2007, the eu has adopted a directive with the purpose of harmonising consumer mortgage lending law whilst ensuring a high level of consumer protection. This article assesses the impacts of the Mortgage Credit Directive in Sweden and the United Kingdom. The focus is residential mortgage lending from a consumer protection perspective on the basis of the main areas of the directive; communications, advice, information, disclosure, responsible lending and repayment. The practical processes of mortgage lending and the ways these fields are regulated are significantly different in the two Member States; however, many similarities on a principle level can be found. The study is an example of how harmonisation is made within the eu and how two Member States with almost opposite starting points are able to harmonise law and still preserve the characteristics of their own solution.


Author(s):  
Francisco Pozo-Martin ◽  
Heide Weishaar ◽  
Florin Cristea ◽  
Johanna Hanefeld ◽  
Thurid Bahr ◽  
...  

AbstractWe estimated the impact of a comprehensive set of non-pharmeceutical interventions on the COVID-19 epidemic growth rate across the 37 member states of the Organisation for Economic Co-operation and Development during the early phase of the COVID-19 pandemic and between October and December 2020. For this task, we conducted a data-driven, longitudinal analysis using a multilevel modelling approach with both maximum likelihood and Bayesian estimation. We found that during the early phase of the epidemic: implementing restrictions on gatherings of more than 100 people, between 11 and 100 people, and 10 people or less was associated with a respective average reduction of 2.58%, 2.78% and 2.81% in the daily growth rate in weekly confirmed cases; requiring closing for some sectors or for all but essential workplaces with an average reduction of 1.51% and 1.78%; requiring closing of some school levels or all school levels with an average reduction of 1.12% or 1.65%; recommending mask wearing with an average reduction of 0.45%, requiring mask wearing country-wide in specific public spaces or in specific geographical areas within the country with an average reduction of 0.44%, requiring mask-wearing country-wide in all public places or all public places where social distancing is not possible with an average reduction of 0.96%; and number of tests per thousand population with an average reduction of 0.02% per unit increase. Between October and December 2020 work closing requirements and testing policy were significant predictors of the epidemic growth rate. These findings provide evidence to support policy decision-making regarding which NPIs to implement to control the spread of the COVID-19 pandemic.


2021 ◽  
Vol 20 (1) ◽  
pp. 45-66
Author(s):  
Marco Meyer

Politicians around the globe wrangle about how to deal with trade imbalances. In the Eurozone, members running a trade deficit accuse members running a surplus of forcing them into deficit. Yet political philosophers have largely overlooked issues of justice related to trade imbalances. I address three such issues. First, what, if anything, is wrong with trade imbalances? I argue that in monetary unions, trade imbalances can lead to domination between member states. Second, who should bear the burden of rebalancing trade? I argue that surplus and deficit countries should share that burden. The current situation placing the burden squarely on deficit countries is unjust. Third, which institutional arrangements should monetary unions adopt to regulate trade balances? Monetary unions can either reduce trade imbalances within the monetary union, neutralise the impact of trade imbalances on the economic sovereignty of member states, or delegate economic policy affecting trade balances to a legitimate supranational institution. The Eurozone must adopt one of these options to prevent member states from domination. Which option protects members best against domination depends on what makes interference between members arbitrary, an unresolved question in republican theories of justice.


2020 ◽  
Vol 27 (4) ◽  
pp. 477-480
Author(s):  
Angela Martins ◽  
Vicensia Shule

Africa as a continent has been hit by the coronavirus – the COVID-19 pandemic – as have many parts of the world. Many African Union (AU) member states were badly hit by the virus, while others were only mildly impacted. The arts, culture, and heritage sectors have been severely hit by the pandemic. Fortunately, in many countries in Africa, arts, culture, and heritage were placed at the heart of strategic priorities at the national, regional, and continental levels of combating COVID-19.


2003 ◽  
Vol 52 (1) ◽  
Author(s):  
Reimar von Alvensleben ◽  
Bernhard Brümmer ◽  
Ulrich Koester ◽  
Klaus Frohberg

AbstractReimar von Alvensleben asks in his article whether the “Agrarwende” in Germany could be a model for Europe. He argues that the new agricultural policy (the so-called “Agrarwende”), which has been proclaimed and implemented after the German BSE crisis 2000/2001, adds new problems to the already existing problems of the Common Agricultural Policy (CAP). The strategy of improving international competitiveness of German agriculture by promoting the niche markets for organic food, animal-friendly produced food and regional food is unrealistic and thus neglecting the problem of improving the competitiveness of 85−90% of German agriculture. The criterion of ecological efficiency (How to achieve ecological goals at lowest costs?) is totally neglected in agricultural environmental policy. The strategy of implementing environmental and animal welfare standards by the market mechanism will not lead to reasonable results because of perception distortions of the consumers. As a consequence of distorted perception of food risks by politicians, cost of risk prevention are too high and/or safety and health standards in other less spectaculous areas are too low. For these reasons he concludes that the “Agrarwende” in Germany cannot be regarded as a model for Europe, especially not for Eastern Europe.Bernhard Brümmer and Ulrich Koester write in their paper that the Eastern Enlargement of the EU will have significant implications for governance of the CAP. The evolution of the CAP has led to a permanent increase in the intensity of regulation, although the rate of external protection has declined. Past experience - mainly revealed by the European Court of Auditors - has evidenced many irregularities and even fraud as a by-product of the CAP. Governance problems are due to badly designed policies, which demand control of even individual farms and give the member countries, administrative regions (which are supposed to implement the policies on the local scale) and the individual farms themselves incentives to breach the rules. In their view governance problems will certainly increase in the enlarged EU. The new member countries have a weaker administrative capacity and are subject to more corruption than the present EU countries. Adequate policy reaction should lead to fundamental changes of the CAP.Klaus Frohberg argues that in its Mid Term Review the EU-commission proposes a change in the most important instruments of the CAP. Direct payments and intervention prices belong to this group. In his paper the impact of these changes is discussed. Direct payments shall become decoupled from production and be summarised into a single payment to farmers. In addition, the right of these transfers shall be made tradable independent of a simultaneous exchange of land. With regard to the intervention prices they shall be reduced as to approach world market levels. Assuming that the Member States will confirm the proposals the CAP is expected to improve considerably. Allocation and transfer efficiency will increase, consumer welfare will go slightly up, taxpayers will be little if at all affected and the EU can defend its position in the negotiations of the ongoing WTO round. These advantages accrue to the current as well as to the new Member States. In spite of the improvements the CAP still needs to be enhanced in some areas such as the market organisation of sugar and milk.


2019 ◽  
Vol 11 (15) ◽  
pp. 4173 ◽  
Author(s):  
Ramona Pîrvu ◽  
Cristian Drăgan ◽  
Gheorghe Axinte ◽  
Sorin Dinulescu ◽  
Mihaela Lupăncescu ◽  
...  

The impact of implementation of cohesion policy on the sustainable development of EU countries is of great interest and presents a number of actual challenges. This research aims to evaluate the impact and the effects of the cohesion policy among the Member States using hierarchical clustering analysis in order to identify how the selected variables affect the sustainable development adopted models. The variables used in the analysis were selected on the basis of official data provided by the European Commission, SDG Index and Dashboards Reports and the EU Cohesion Monitor. The results of the research have led to the grouping of the 28 Member States in a number of six clusters, identifying performers but also those countries that have a high potential for sustainable development or which require increased attention to be sustained in recovering existing gaps. The results of the study can be a starting point for policy makers and other stakeholders involved in their efforts to support sustainable development through effective and effective policies.


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