EconPapers    
Economics at your fingertips  
 

CHF denominated loans – a case study of Montenegrin approach

Nikola Dožic ()
Additional contact information
Nikola Dožic: Faculty of Law, University of Montenegro

Juridical Tribune (Tribuna Juridica), 2018, vol. 8, issue 1, 86-102

Abstract: Montenegro has harmonized its legislation with EU consumer protection directives during its ongoing accession negotiations. However, in view of the CHF denominated loans issue, harmonization in financial services sector came too late. To that end, the main objective of this paper is to present the case study of Montenegrin “solution” to this problem, as well as some of the key problems this “solution” has caused. The reactions of the Montenegrin Parliament, amendments and new legal texts relating to consumer protection, which were the product of the Parliaments frenetic legislative activities carried on the wings of public’s outrage with this case, are scrutinized. In that regard, all the problems that followed the “Montenegrin solution” are critically examined and along with those some of the most interesting cases trialed before the Montenegrin courts in the cases of CHF denominated loans. The above analyses are complemented with the analysis of the Montenegrin media coverage of some of the most interesting media reports regarding the CHF denominated loans, particularly of the relevant case law. The conclusion is made that cooperation of all the relevant persons and institutions entrusted with facilitating and executing consumer protection is of primary importance for efficient protection of consumer’s rights and legitimate interests.

Keywords: CHF denominated loans; Montenegro; harmonisation of national law; lex specialis; CJEU ruling. (search for similar items in EconPapers)
JEL-codes: K12 K33 (search for similar items in EconPapers)
Date: 2018
References: View complete reference list from CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.tribunajuridica.eu/arhiva/An8v1/7.%20Nikola%20DOZIC.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:asr:journl:v:8:y:2018:i:1:p:86-102

Access Statistics for this article

More articles in Juridical Tribune (Tribuna Juridica) from Bucharest Academy of Economic Studies, Law Department Contact information at EDIRC.
Bibliographic data for series maintained by Catalin-Silviu Sararu ().

 
Page updated 2018-07-28
Handle: RePEc:asr:journl:v:8:y:2018:i:1:p:86-102