We store cookies on your device to make sure we give you the best experience on this website. I'm fine with this - Turn cookies off
Switch to an accessible version of this website which is easier to read. (requires cookies)

Diana says Optional Instrument in European Contract Law is a real chance to boost the EU's Internal Market.

June 6, 2011 10:06 PM
Originally published by Diana Wallis

Following through on the Legal Affairs Committee's recommendation to go for an Optional Instrument in European Contract Law Rapporteur Diana Wallis says this a real chance to boost the EU's Internal Market.

Speaking in Strasbourg ahead of tonight's debate, Diana said:

"In difficult economic times, the Optional Instrument in European Contract Law is a real example of justice for growth. Of course it has to be the right optional instrument; we have to get it right. In this case 'right' means a high level of consumer protection (indeed higher than in many Member States) an easy and user-friendly system for SMEs to incorporate in their business model as a badge of good practice and service and most importantly no adverse effects on national law. Those are the criteria we have set out for the Commission.

"This is an optional, voluntary instrument but one that could really open up consumer choice and business possibilities across Europe. It could be a win-win. Colleagues were very constructive with the report in committee, adding lots of safeguards to the process to ensure that it is evidence based, with strict impact assessment and absolutely full parliamentary involvement. So now at least let's give it a go and get on with it. After more than a decade of talk about European Contract law now in the current economic crisis must really be the time for action."

The vote takes place on Wednesday.