The legal basis and policy context of the European harmonisation effort

Lydia Tsioli ()

Chapter 2 in Viability in Corporate Debt Restructuring Law, 2025, pp 41-92 from Edward Elgar Publishing

Abstract: Chapter 2 gives a detailed background on the Directive by presenting the history of the harmonisation effort and the difficulty of the harmonisation undertaking. It also engages in the broader discussion regarding the pros and cons of harmonisation in the field by ultimately supporting the choice of minimum harmonisation as the optimal one for the Directive. The chapter also examines the legal basis and policy context of the Directive and concludes by suggesting that its pre-insolvency scope prevents it from reaching its full potential. Based on the chapter's analysis, it is the notion of viability rather than that of solvency/insolvency that constitutes the crucial determinant of the legal and policy effectiveness of the European Directive.

Keywords: Forum-shopping; Harmonisation; Internal market; Article 114 TFEU; Capital Markets Union; Banking Union (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035350254
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