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Publishers Abstract:
Time and again, the provisions on free movement of capital have been regarded as being less peremptory compared with those applicable to the other (fundamental) freedoms. This perception was founded on the fact that in the early years of Community law the Court did not extend its jurisprudence on direct effect and the notion of a broad material scope developed with regard to the other freedoms to the freedom of movement of capital. Since the launch of the Internal Market Project and the amendment of the relevant provisions by the Treaty of Maastricht, however, the free movement of capital and of payments has gained a broader and much more liberal scope. The further question of whether a measure aiming at safeguarding the domestic energy supply but thereby causing a restriction to the freedom of movement of capital and freedom of establishment can be justified under Article 58 EC or a mandatory requirement will certainly require further examination of the ECJ in near future.
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