[The Mortgage Credit Directive] introduces responsible lending practices across the EU. Consumers will be better informed as lenders will have to provide them with a standardised information sheet so they know the risks but can also shop around for the best product at the best price to suit their needs. It ensures that vulnerable consumers are protected by reducing the risk of over-indebtedness and default. Creditors will be encouraged to apply reasonable forbearance when confronted with consumers in serious payment difficulties. It will also, in the long run, provide lenders with new business opportunities through the creation of a Single European Mortgage Market. Credit intermediaries that comply with the new business conduct rules will gain access to many more potential consumers in the single market via the passport regime. This will result in more EU-wide competition and is expected to drive down prices in the long run.
I assume this rather important step towards the single market chimera (imaginary airy mine/infernall Monster: your choice) is Eurozone only, and wonder how long ago it became possible in the US, for example, to use a house in one state as security for a mortgage on a house in another.
- European conservatives
Re Mark Liberman’s European Politics 101, I’d have thought that one would describe Derrida and Habermas as conservatives not because of any association with any particular dogma but because they both clearly long for times past. The 70s, let us not forget, were a period which combined rampant collectivism with reasonable sales for the writings …
- Feta marketing dilemma resolved
There is the weeniest bit of potential to frustrate the knavish tricks of those bad, bad Greeks and “their” precious feta: the Italianism feta is used in Argentina and Uruguay to mean a slice of cheese or cold cut, so all the Danes and the Germans need to do is slice up their product and package …
- Statutory obligation to know Spanish/Catalan, against European rules?
That’s surely the long-term implication for the Spanish constitution and the Catalan statute of autonomy of this European Court of Justice ruling re lawyers’ linguistic obligations:
The European Court of Justice (ECJ) yesterday (19 September) threw out the requirement for a lawyer to speak the language of the country he wants to practise in.
- Local press advertising
There are lots and lots of local and regional papers in Spain, many are propped up by the state (the Generalitat has been paying and presumably pulping almost 10% of La Vanguardia’s sales), and most of them have little or no competition. Most will disappear over the next few years because the state is losing …