Abstract
Since the global financial crisis, lawmakers have proposed a tremendous amount of rules so as to contain the current crisis, as well as to prevent the next one. These rules aim to serve general welfare, but they also restrict the autonomy of bankers and their counterparties. This means an infringement of a basic private law principle. In this paper, which is the text of a presentation made at the 5th CECL conference at Uppsala University, Sweden, on 3 April 2014, it is shown how lawmakers should weigh general welfare against this autonomy principle, especially as regards new European bank insolvency law.
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