EU Debt Law: Complete Collection of Regulations and Directives

Author: Wu Yue, Li Zhaoyu, Li Lihong
Publisher:
Publishing Date: 2004-05-01
Features: Since the establishment of the European Community, Europe has been divided into a broad and a narrow sense. The narrow definition of Europe is actually the European Community (EC), while the European Union (EU) has a trend to replace the EC. The establishment of the EU has greatly promoted the unification of Europe, and this unification process is far from complete, as evidenced by the expansion of the EU from Western Europe to Central and Eastern Europe. As the largest economic and political entity today, the EU aims for the ultimate goal of achieving a common market and political unification, while also serving as an important pole in maintaining world peace. In the international political and economic landscape where economic globalization and diversification coexist, for any country or international organization, paying attention to and researching the EU holds strategic significance. A crucial part of this strategic research is the exploration of EU and its member states' laws, as the unification of the EU has been gradually achieved through international treaties and the EU's own legislation. From the perspective of international law, the EU still remains an international organization in nature. However, the national unity and unification achieved by the EU are unparalleled by any other international organization. The EU not only established three communities—the Economic Community, the Steel and Coal Community, and the Atomic Energy Community—but also formed a unified monetary system. Moreover, its member states have a common foreign policy in terms of foreign and security affairs, as well as law enforcement and judicial cooperation. These three communities and the two common foreign policies constitute the EU's "Five Pillars." Furthermore, the EU enjoys its own legislative power and judicial power, symbolized by the European Court of Justice. It is clear that the EU is a true "super international organization."
As a distinct legal discipline, EU law has become a compulsory course for law students in member states. According to EU treaties, the EU's own legislation is primarily divided into two types: regulations and directives. Regulations take effect directly in member states without the need for conversion into domestic law. Due to the significant differences in laws, particularly in private law, among member states, if only a minimal level of coordination can be achieved, the EU generally adopts the form of directives. Member states must transpose EU directives into domestic law within the specified timeframe, which allows the laws of different member states to maintain a certain degree of commonality while retaining some diversity. From these regulations and directives, other countries can discern trends in legal development, not only because the EU member states include both civil law and common law countries, but also because they are all developed countries with long-standing legal traditions. The coordination and development of laws between the EU and its member states, to some extent, represent the trend of global legal development. Studying EU law is not only of international law significance but also serves as a valuable reference for improving the rule of law in one's own country.
We have noticed that Chinese civil and commercial law, criminal law, economic law, social law, environmental protection law, and procedural law have all been positively influenced to varying degrees by EU law. Additionally, as China rises peacefully, the EU is increasingly paying attention to the development of Chinese law. Both China and the EU play important roles on the international economic and political stage. In the context of a diversified international landscape, China and the EU have engaged in comprehensive cooperation, and their strategic partnership is becoming increasingly clear. The launch of the China-EU cooperation project is a testament to this positive interaction. As a sub-project of this initiative, the China-EU Legal and Judicial Cooperation Project has undoubtedly bridged the legal and cultural exchange between the two. Under the guidance of the China-EU Legal and Judicial Cooperation Project, Southwest University of Political Science and Law has been dedicated to comparative studies and translations of EU and Chinese laws. For this, we are deeply grateful to the China-EU Legal and Judicial Cooperation Project Management Office, particularly to the EU Director, Mr. Stephan Forbes, the Chinese Director, Ms. Zhao Linna, and the partner, Legal Press. We also commend the highly effective coordination efforts of Professor Wu Yue, the Executive Editor of the series and Director of the EU Law Institute, for her fruitful work.
Finally, we wish for the publication of the "China-EU Legal Studies Series" to contribute to promoting legal exchanges between China and the EU.