Consumer Debt and Social Exclusion in Europe

Consumer Debt and Social Exclusion in Europe

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This book analyses the dichotomy between the goal of social inclusion and the effect of social exclusion through over-indebtedness since 2008 in Europe. Filling a vital gap in the current literature on the effects of the financial and economic crisis, this volume puts into context academic discussion with the real-life dimension of over-indebtedness. Reports from six European countries provide socio-economic and legal information on over-indebtedness as well as the regulatory and judicial responses to the problems entailed by over-indebtedness. They form the empirical background for five analyses of different aspects of the inclusion-exclusion dichotomy. It becomes clear that in the context of credit expansion, individual over-indebtedness has turned into a social issue, which the current design of the consumer credit and mortgage system in Europe has helped to produce while disregarding the consequential danger of social exclusion.
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Product details

  • Hardback | 264 pages
  • 171 x 248 x 25.4mm | 658g
  • London, United Kingdom
  • English
  • Revised ed.
  • Includes 7 b&w illustrations
  • 1472449037
  • 9781472449030
  • 2,048,356

Table of contents

Contents: Part I The Framework: Introduction, Irina Domurath and Hans-W. Micklitz; The design of consumer and mortgage credit law in the European system, Guido Comparato. Part II The Country Reports: Country report Greece, Georgios Mentis and Katerina Pantazatou; Country report Portugal, Catarina Frade and Mariana Pinheiro Almeida; Country report Spain, Pablo Gutierrez de Cabiedes and Marta Cantero Gamito; Country report Hungary, Monika Jozon; Country report Iceland, M. Elvira Mendez Pinedo and Irina Domurath; Country report Romania, Beatrice Andresan-Grigoriu and Madalina Moraru. Part III The Different Issues of Over-Indebtedness: Over-indebtedness and its causes across European countries, Elaine Kempson; A map of responsible lending and responsible borrowing in the EU and suggestions for a stronger legal framework to prevent over-indebtedness of European consumers, Irina Domurath; The role of credit bureaus in globalised economies: why they matter less than we think and how they can matter more, Akos Rona-Tas; Two cheers for Europe: austerity, mortgage foreclosures and personal insolvency policy in the EU, Iain Ramsay; Conclusions: consumer over-indebtedness and consumer insolvency - from micro to macro, Hans-W. Micklitz. Index.
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Review quote

'From "you've got to have money" vs "social force majeure" towards a new societal and economic perspective on the regulation of household debt following the financial crisis. The analysis of the impact of the crisis on consumer law and consumer bankruptcy is both extremely topical and comprehensive.' Thomas Wilhelmsson, University of Helsinki, Finland 'This is an excellent book which provides valuable insights into the responses of European States to economic crisis. The book highlights the risks of focusing on the macroeconomy while ignoring the plight of consumers and exacerbating over-indebtedness, and should be closely scrutinised by policy makers and academics alike.' Therese Wilson, Griffith Law School, Australia 'This book, provoked by the financial crisis of the last years, is based on empirical studies in six European euro and non-euro jurisdictions, analysing the situation of over-indebted consumers and making proposals for improving their condition in case of insolvency. The book which takes on these important issues is indispensable reading for all working or interested in the field of financial services in the EU.' Norbert Reich, University of Bremen, Germany
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About Irina Domurath

Hans-W. Micklitz is Professor of Economic Law, European University Institute, Italy. He also holds the position of Jean Monnet Chair of Private Law and European Economic Law at the University of Bamberg, Germany. Irina Domurath is a PhD fellow at the University of Copenhagen and the University of Iceland. She researches the interaction between risk, vulnerability, and over-indebtedness.
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