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.
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.
