Publication

This paper states that since the adoption of the Consumer Credit Directive 87/102/EC in 1986, the EU consumer credit market has changed significantly in terms of size and structure and that the directive no longer addresses the market’s needs. The author argues that a total harmonization of the regulatory rules is difficult and causes problems. He concludes that one way forward is to draw from the experience of the strategies used to achieve integration of EU financial markets and adapt it to the field of consumer credit.