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Free movement of capital is at the heart of the Single Market and is one
of its “four freedoms”. It enables integrated, open, competitive and efficient
European financial markets and services. For citizens it means the ability to
perform many operations abroad, as diverse as opening bank accounts, buying
shares in non-domestic companies, investing where the best return is, and
purchasing real estate. For companies it principally means being able to
invest in and own other European companies and take an active part in their
management.
With all its benefits, the free movement of capital brings with it an array of
thorny issues. This timely work explores several of the most critical,
focusing on the practical ability of national law to satisfy the relevant EU
requirements
Preface. 1. Introduction. 2. Relationship between the Free
Movement of Capital and the Other EC Treaty Freedoms: A Question of
Exclusivity, Parallelism or Causality? 3. Significance of the
Standstill Clause under Article 57(1) EC in the Field of Direct Taxation: Lack
of Design versus Maintenance of Sovereignty 4. Substantive Scope of the
Free Movement of Capital vis-à-vis Third Countries: Still More Questions than
Answers 5. The Free Movement of Capital in Association- and Partnership
Agreements and Direct Taxation 6. Summary and Conclusions. Abbreviations