Harmonization of Private Law in the European Union: Methods and Mechanisms

Abstract

There has been a call for harmonization of private law within the context of the European Union. Harmonized private law can enhance free movement of goods, services, and capitals and reduce transaction costs. Harmonization of private law in the EU can be conducted through treaties, regulations, directives, codification and non-binding (soft law) methods. More recent developments have resorted to the idea of optional codes. All these methods have their own advantages and disadvantages. In addition, in the process of applying a method of integration, cultural, historical and legal differences should be taken into account.