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Book part
Publication date: 13 May 2021

Feyza Basar

Since the beginning of the twentieth century, modernization has been a defining concept for the politics of Turkey and is associated with the Western world. In this…

Abstract

Since the beginning of the twentieth century, modernization has been a defining concept for the politics of Turkey and is associated with the Western world. In this respect, EU membership has been a driving force for Turkey to reach its goal. As a candidate country in Customs Union with the EU, Turkey has to harmonize its legislation, judicial and administrative practices with the EU acquis. It brings fundamental changes and affects all layers of society, including public and private institutions, not only politically but also economically and socially. Accepting the EU acquis also requires human resources with sufficient experience and knowledge in the EU. However, teaching the EU is a complete challenge with its unique institutional structure, complexity of its policy areas, fast-changing legislation and case law. This chapter considers to what extent EU–Turkey relations have affected teaching EU in Turkey and some of the approaches which might be applied to overcome the main obstacles.

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Teaching the EU: Fostering Knowledge and Understanding in the Brexit Age
Type: Book
ISBN: 978-1-80043-274-1

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Article
Publication date: 28 February 2019

Héctor Simón-Moreno and Padraic Kenna

The measures enacted so far at European level to address the global financial crisis are likely to have limited effects as they are still market efficiency oriented…

Abstract

Purpose

The measures enacted so far at European level to address the global financial crisis are likely to have limited effects as they are still market efficiency oriented. Accordingly, this study aims to explore how the EU Charter on Fundamental Rights may be useful to achieve a more human right dimension in EU regulatory law.

Design/methodology/approach

The work departs from the current commodification of housing worldwide and the limited capacity of EU to tackle new housing challenges. The work takes the link already established by the CJEU between EU consumer law and the EU Charter on Fundamental Rights one step further and addresses the potential implications concerning residential mortgage lending.

Findings

The main finding is the potential influence that the EU Charter of Fundamental Rights may have on EU regulatory mortgage lending, as there are indicators of a bifurcation of mortgage law regimes at the EU level, separating home loans from other mortgages.

Social implications

The influence of the Charter of Fundamental Rights on EU regulatory law, mainly consumer law treated in a human rights dimension, could be a first step to treat housing as a social good and not as a commodity in the EU. This could lead to a completely new approach concerning the traditional rules governing residential mortgage loans.

Originality/value

The potential constitutionalisation of consumer law and the impact of the CJEU cases on national procedural rules have already been addressed by scholarship. The present work goes one step further as it addresses the potential implications of the EU Charter of Fundamental Rights on EU regulatory law in terms of the potential bifurcation of EU rules on mortgage lending.

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Journal of Property, Planning and Environmental Law, vol. 11 no. 1
Type: Research Article
ISSN: 1756-1450

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Article
Publication date: 2 January 2018

Norman Mugarura

The purpose of this paper is to explore the law relating to European Union (EU) Anti-Money Laundering (AML) Directives and the effect of Brexit on money laundering…

Abstract

Purpose

The purpose of this paper is to explore the law relating to European Union (EU) Anti-Money Laundering (AML) Directives and the effect of Brexit on money laundering regulation in the UK and the EU. The first part of the paper involves a review of AML Directives and how they are transposed into the UK. The question whether the fourth AML directive or other directives due to become law in the UK will be implemented or culled will largely depend on the relationship between the UK and the EU going forward. The UK will have the full autonomy in terms of making decisions as to which laws to implement or which laws to scrap or to cull, as it sees fit. The UK having relinquished its membership of the EU notwithstanding could still be bound by EU anti-money directives particularly if it chooses to remain in the EU single market. The UK could also forge alliances with EU member states and in which case it will be expected to apply the same EU market rules as its other EU counterparts. The fourth AML directive that was due to become law in all EU member countries in June 2017. This directive was introduced to streamline the third AML directive (2005/60/EC) largely with regard to beneficial ownership of nominee accounts and politically exposed persons (PEPs). The paper scoped current EU AML directives, and how they have been used in the fight against money laundering both in the UK and beyond. Brexit is likely to have far-reaching implications on many regulatory areas, including in prevention of money laundering and its predicate offences in the UK and the EU. The fourth AML directive was due to become law in the UK on 26 June 2017, and whether the UK Government will go ahead and implement it or bin remains to be seen.

Design/methodology/approach

The paper has evaluated the potential effect of BREXIT on EU AML Directives in the UK, drawing examples in non-EU countries. It articulates the raft of EU AML Directives to assess whether the fourth AML directive (which was due to become law in June 2017) will become law in the UK or be culled. It draws on experiences of non-EU countries like Switzerland and Norway, which despite not being members of the EU, have full access to the EU single market. The first part of the paper provides a review of AML Directives in Europe and how they are internalised into member countries. Data were evaluated often alluding to existing mechanisms for harnessing EU AML Directives in member countries. The last part of the paper proposes the measures that are ought to be done to minimise or forestall the threat of money laundering and its predicate offences in the post-Brexit regulatory environment.

Findings

The BREXIT has already unravelled markets both in the UK and in the EU with far-reaching implications on money laundering regulation in multiple ways. The paper has articulated the mechanisms for internalisation of EU AML directives in all Member countries and countries that want to exit the EU. It is now clear that, as the UK voted to relinquish its membership of the EU, it will not be under any obligations to apply EU AML regimes or any other EU laws for that matter. The findings of the paper were not conclusive, as the UK government has not yet triggered Article 50 of Treaty of Lisbon on the functioning of the EU. The fourth AML directive, which was due to become law in the UK on 26 June 2016, could still be adopted or culled depending on the model the UK decides to adopt in its relationship with the EU going forward. There is a possibility for the UK to remain a member of the EU single market and to retain some of the regulatory rules it has operated in relation to money laundering regulation and its predicate offences. It could adopt the Norway, Switzerland or the Canadian model, each of which will have different implications for the UK and the EU in terms of their varied AML obligations. It will be in the commercial interests of the UK Government to not cull the fourth AML directive (which was due to become law in June 2017) but to transpose it into law.

Research limitations/implications

There were not so many papers written on the issue of Brexit in the context of this topic. It was therefore not possible to carry out a comparative review of Brexit and its effect on money laundering regulation in the UK, drawing on experiences of other countries that have exited.

Practical implications

Brexit is likely to have far-reaching implications on many regulatory areas, including prevention of money laundering and its predicate offences in the UK and the EU.

Social implications

The Brexit has elicited debates and policy discussions on many regulatory issues and not the least money laundering counter-measures in the post-Brexit environment. Brexit will have far-reaching implications for markets, people and national governments both in the EU and beyond. It has already unravelled social and economic life both in the UK and in the EU. The significance of paper is that it could enhance future research studies on money laundering regulation within countries delinking from regional market initiatives to address attendant changes.

Originality/value

This paper proffers insights into the Brexit and its implication on AML regulation in the UK and the EU during and post-Brexit era. To curtail the social-economic effect of Brexit on financial markets regulation, the UK should remain a member of the European single market not only to minimise the potential of losing more ground and leverage as a financial capital of the world but also to protect financial markets tumbling downhill!

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Journal of Money Laundering Control, vol. 21 no. 1
Type: Research Article
ISSN: 1368-5201

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Article
Publication date: 1 April 2017

Kirsi-Maria Halonen

The paper examines the disclosure of information within public contract awards under EU law. EU Public Procurement rules have several objectives that may at some times be…

Abstract

The paper examines the disclosure of information within public contract awards under EU law. EU Public Procurement rules have several objectives that may at some times be conflicting with each other. A certain level of transparency of public procurement procedure is necessary in order to fight corruption, enhance trade opportunities and ensure effective legal remedies. On the other hand, too much transparency may have certain anti-competitive effects. The national laws regarding disclosure of information vary in different EU member states. In Finland the EU law principle of effective remedies has been interpreted as requiring full transparency among the bidders. The transparency rules under EU law and certain Member States' national laws are analysed. As a conclusion, it is suggested that the rules on disclosure should not be left solely to the discretion of member states as the over-transparent approach taken by certain member states may negatively affect the markets both on a national and EU level.

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Journal of Public Procurement, vol. 16 no. 4
Type: Research Article
ISSN: 1535-0118

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Article
Publication date: 1 March 2004

Kai Krüger

Markets for public contracting are in the process of transition. Various public/private partnership arrangements replace conventional purchasing, especially within the…

Abstract

Markets for public contracting are in the process of transition. Various public/private partnership arrangements replace conventional purchasing, especially within the local and regional government area. Municipal entities may not be in a position to define their needs up-front because they would not have the overview of what the market may have to offer. So one should ask: Is the traditional ban-on-negotiations in mandatory tender procedures (sealed bidding) - such as it is in EU public procurement law - counter-effective to genuine best value for public money? The article displays significant differences between European Union (EU) law, U.S. law and other regimes such as United Nations Model law, The World Trade Organisation’s Government Procurement Agreement (WTO/GPA), The International Bank for Reconstruction and Development (IBRD), and the NAFTA (North American Free Trade Agreement). New avenues for public/private demand a new agenda and the recent EU 2004 directive scheme attempts to respond to the market challenges. The author accepts that the new directive on public contracting facilitates a more smooth approach than in current EU law with regard to high-tech complicated contract awards, but questions whether the ’competitive dialogue’ really can afford tailor-made solutions to cope with long-term public/private partnership arrangements of the kind now spreading all over Europe

Details

Journal of Public Procurement, vol. 4 no. 3
Type: Research Article
ISSN: 1535-0118

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Abstract

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European Security in a Post-Brexit World
Type: Book
ISBN: 978-1-78769-837-6

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Book part
Publication date: 1 January 2004

Jan-Erik Lane

The idea of spontaneous orders dating back to Mandeville and elaborated at length by the Austrian School of Economics (Menger, Hayek) is no doubt a major contribution to…

Abstract

The idea of spontaneous orders dating back to Mandeville and elaborated at length by the Austrian School of Economics (Menger, Hayek) is no doubt a major contribution to the understanding of society (Hamowy, 1987). It offers great insights into how human beings solve coordination problems by unintentionally creating mechanisms for social interaction such as the market, money, language, science and law (Hamowy, 1987; Petsoulas, 2000). Such a successful concept must have its limits somewhere, as a concept which explains everything covers nothing. I wish to explore this question by relating the evolution of European integration after the Second World War to the Hayek theory of a spontaneous order. Perhaps Hayek contributed most to the elaboration of Adam Smith's vision of a self-correcting social order that needs little direction and control (Boettke, 1998). Hayek underlined time and again the importance of spontaneous processes with the entailed claim that government must adopt an attitude of humility towards conventions that are not the result of intelligent design, the justification of which in the particular instant may not be recognizable, and that may appear unintelligible and irrational (Hayek, 1960, 1982).

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The Dynamics of Intervention: Regulation and Redistribution in the Mixed Economy
Type: Book
ISBN: 978-0-76231-053-1

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Article
Publication date: 1 April 2001

Helen Xanthaki

Directive 91/308/EEC has been hailed by many European Union commentators as an extraordinary advance in the cause of EU integration, not least because it is still one of…

Abstract

Directive 91/308/EEC has been hailed by many European Union commentators as an extraordinary advance in the cause of EU integration, not least because it is still one of the few Directives actually in force in the field of EU criminal law. From the point of view of money laundering control, the Directive has been the EU's main weapon in its endeavours to ensure that the liberalisation of the financial markets and the consequent freedom of capital movements ‘is not used for undesirable purposes, such as money laundering’. Notwithstanding the undoubtful success of the Directive to introduce a minimum level of money laundering control mechanisms in all 15 EU member states (some of which had not even criminalised money laundering before transposing the Directive), however, Directive 91/308/EEC is no longer considered an adequately progressive legislative text for the advancement of further money laundering prevention to a pace equal to the one currently in force both at the international level and within some of the EU member states. The legislative response of the EU to the need for increasingly progressive legislation has been the Draft Money Laundering Directive, which having been passed by the Council and the Parliament is in the final stages of becoming part of EU legislation.

Details

Journal of Money Laundering Control, vol. 5 no. 2
Type: Research Article
ISSN: 1368-5201

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Book part
Publication date: 4 December 2020

Mitja Kovac and Ann-Sophie Vandenberghe

This chapter provides comments and suggestions to the lawmaker, and especially to economic policy-makers in the field of the optimal regulatory framework and…

Abstract

This chapter provides comments and suggestions to the lawmaker, and especially to economic policy-makers in the field of the optimal regulatory framework and implementation of sustainable practices. The main findings are as follows: (1) degradation of the rule of law in several European Union (EU) Member States and constant political undermining of the legal institutions represent the main threat for the implementation of sustainable practices and development; (2) the golden regulatory rule of thumb provides that regulatory intervention is suggested merely in cases of market failures under the condition that the costs of such intervention do not exceed the benefits; (3) over-regulation might impede implementation of sustainable practices, distort the operation of the market, undermine productivity, diminish growth and social wealth and consequently also sustainability; (4) efficiency and wealth maximization should be the lawmaker’s leading normative principle in designing the legal framework that will enable effective implementation of sustainable practices; (5) the efficient level of harmonization or subsidiarity of decision-making in the EU urges for a rigorous investigation of costs and benefits of the EU top-down harmonization policies which should lead to a better, efficient vertical allocation of sustainability agenda between EU and the Member States; and (6) The Reflection Paper on Sustainable Development Goals – “Towards a Sustainable Europe in 2030” – represents an effective institutional framework in pursue of the overall sustainability targets.

Details

Challenges on the Path Toward Sustainability in Europe
Type: Book
ISBN: 978-1-80043-972-6

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Article
Publication date: 1 February 2004

Lucie Thébault

Evaluates the effects of shipwrecks and peoples’ reactions following them, with regard to their feelings of preventability on someone’s part. In particular to the Erika in…

Abstract

Evaluates the effects of shipwrecks and peoples’ reactions following them, with regard to their feelings of preventability on someone’s part. In particular to the Erika in 1989, and the Prestige in 2002. The European Union (EU), which theretofore seemed to be neglecting maritime safety appears to have developed a maritime culture. The EU seems to have adopted the International Maritime Organisation’s (IMO) attitude regarding safety protocols, which must be a right and proper thing to do. Concludes that shipping has needed, and is now receiving, a proactive approach with regard to safety from the EU which should limit, as far as possible, disasters of both a human and ecological kind for the maritime world.

Details

Managerial Law, vol. 46 no. 1
Type: Research Article
ISSN: 0309-0558

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