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FMOC - Coggle Diagram
FMOC
Article 63 TFEU
prohibits restrictions on FMOC + payments
has broader scope than other FF
applies to movements of capital + pyments between MS + between MS + 3rd countries
Distinction between capital movements and payments Luisi + Carbone
Directive 88/361 referred to by ECJ
Restrictions on FMOC
prohibited
direct + indirect discrimination
measures liable to hinder FMOC
justified
Article 65 TFEU
Overriding requirements
has direct effect
Economic and monetary Union
first efforts
Bretton Woods
Hague conference 1989
European monetary system 1979
movement towards creation of EMU
1988 Hanover European Council --> ECB (in 3 stages)
Introduction of euro, Jan 1999, entered circulation 1st Jan 2002
Case Gauweiler = legality of OMT