A way forward: Specialized courts in the law of finance in the EU

Abstract

Abstract This chapter draws lessons from the analysis in Chapters 12 and 13, and offers some conclusions about the role of specialized justice in financial disputes in the European Union, for both public law and private law disputes, using the existing legal basis in the Treaties. It discusses the existing precedent of the Unified Patent Court, as a mechanism outside the EU framework, but which applies EU law. The chapter also discusses the relationship of this specialist system with national systems of courts and dispute resolution, on the basis of the principles of procedural autonomy, equivalence, and effectiveness, as well as national constitutional counter-limits. It finishes with a cautious proposal to reform the existing court system in the law of finance.