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The legal implications of the European monetary union under the U.S. and New York law. Economic Papers No. 126, January 1998

Lenihan, Niall (1998) The legal implications of the European monetary union under the U.S. and New York law. Economic Papers No. 126, January 1998. [EU Commission - Working Document]

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    Abstract

    From the Executive Summary. In May 1995 the European Commission’s "Green Paper on the practical arrangements for the introduction of the single european currency" predicted that under the laws of non-EU jurisdictions the proposed single currency would be recognized as the successor to existing EU national currencies at the fixed conversion rates at which the single currency will substitute EU national currencies.6 The Commission’s Green Paper thus concluded that under the laws of non-EU jurisdictions the continuity of monetary obligations and other terms of a contract such as interest rates and other ancillary obligations could be expected.7 This study will address the issues raised by the Commission’s Green Paper. Thus study reaches the following conclusions regarding the legal implications of EMU for transactions governed by the laws of U.S. jurisdictions, regardless of whether legislation ensuring the continuity of contracts is passed in particular American jurisdictions and regardless of whether such legislation applies prospectively or retroactively.

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    Item Type: EU Commission - Working Document
    Additional Information: Sections are bookmarked.
    Uncontrolled Keywords: United States.
    Subjects for non-EU documents: UNSPECIFIED
    Subjects for EU documents: Economic and Financial Affairs > Economic and Monetary Union (EMU) July 1990-
    External Relations > Bilateral Relations
    EU Series: Economic Papers
    ["eprint_fieldname_eusries" not defined]: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Depositing User: Phil Wilkin
    Official EU Document: Yes
    Language: English
    Date Deposited: 16 Jul 2012 09:31
    Number of Pages: 209
    Last Modified: 21 Aug 2012 14:45
    URI: http://aei.pitt.edu/id/eprint/34773

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