Current developments in European integration. Financial services / transport policy. Legal and economic contributions to the Fortis Bank Chair 2001-2003

Abstract:

This book looks at the integration process as it affects two key sectors of the European economy. Transport has featured a market based approach, whilst cross border provision of financial services is promoted through various harmonisation directives adopted since 1989.

Part one deals with financial services and opens with a chapter that addresses the interaction between the fundamental Community rules on free movement and private international law. Chapter two looks at the European internal insurance market, and proffers the argument that to understand it one must first understand the differing and often conflicting cultural backgrounds and environments. The third chapter concentrates upon the potential impact of Basel II on capital adequacy rules in the EU. The last chapter in part one explores the issues around European monetary integration and the restructuring and consolidation of banks.

Part two deals with European transport policy developments. It opens with a chapter on the new regulatory framework for the railways of the European Union. The second chapter deals with maritime and intermodal transport and examines the significant role played by the Court of Justice in the development of the common transport policy. The third chapter explores the role of tax law in the integration of environment and energy aspects of EC transport policy. The economics of rail travel and freight movement in Europe are considered in the fourth chapter, which explores opportunities for more realistic road pricing policies - restoring to some extent the competitive edge of rail, which will also have to undergo major reappraisal of the less productive parts of the system and offer increased productivity. The final chapter looks at recent developments in European competition law as applied to air transport and addresses such issues as merger and strategic alliances, state aid cases and others.

The work will interest scholars, students and practitioners with an interest in European integration.