‘The crisis, national economic particularism and EU law: What can we learn from the Hungarian case?’

Abstract:

This article examines the ability of EU law to address radical and sudden changes introduced in the Member States pursuing particularistic economic policies in national markets in the wake of the global financial and economic crisis.

It contends that national governments relying on the very real political and legal powers available to them in the domestic governance arena can interfere with market conditions and competitive positions without EU law being able to prevent potentially irreversible changes and restoring national markets.

Even though the infringement of EU law will eventually be established in the direct and indirect avenues available, that may come too late for market participants and may not deal with the future operation of the affected markets. As the example of developments in Hungary shows, EU enforcement, especially when its national limb is weak, may be unable to satisfy expectations as to its effectiveness.