Bulletin n. 3/2009
January 2010
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • Angel Benjamin, Margerit Aliénor
    Quelle est la portée du cours légal de l'euro?
    in Revue de l'Union européenne/Revue du Marché Commun et de l'Union européenne , n. 532, octobre-novembre ,  2009 ,  587-592
    With the passing of the Euro, countries in the zone lost any legal capacity to determine the legal tender, but the Union refrained from doing so, thus letting different national rights and practices co-exist. Can a merchant refuse payments in cash? Is the systematic refusal of high work bills comaptible with the concept of legal tender of the euro? Answers to these questions change from one country in the euro zone to the other, which is not very satisfactory and legally uncertain, regarding a common currency. A working group has for the first time been initiated this year, under the aegis of the Commission and Europea Central bank, with a view to to finding interpretationlines common to countries in the zone. To simplify, there are currently two views of legal tender: 2legalists", the broad majority, support the legal tender (payments in cash are always the default solution) and "contractualists" champion contractual liberty (a payment in cash can always be refused). It is unlikely that the current thoughts will result in a complete harmonisation of the concept of legal tender in a European regulation. Nevertheless, from the talks, a number of common guideline principles could emerge, that could then be turned into an interpretative text.
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