Please use this identifier to cite or link to this item: http://hdl.handle.net/1946/19551
The purpose of the thesis is to compare the provisions on the free movement of capital in the Treaty on the Functioning of the European Union (TFEU) and the Agreement on the European Economic Area (EEA Agreement), to compare their application and to see if the EFTA Court follows the case-law of the ECJ.
The first part of this thesis begins with a short history of the European Union and the internal market and discussing the methodology of the European Court of Justice (ECJ) in defining the scope of restriction, the rule of reason. Then the free movement of capital is discussed, its history and development and what it constitutes and then the way in which the ECJ has defined discrimination and restriction in the field of free movement of capital. Finally, permissible TFEU derogations from the free movement of capital will be discussed.
The second part of the thesis discusses the free movement of capital from the perspective of the European Economic Area. After a brief account of how the Agreement on the European Economic Area came to be the principle of homogeneity is discussed in detail seeing as the objective of the EEA Agreement is creating a homogeneous European Economic Area. Subsequently, the provisions in the EEA Agreement on free movement of capital and derogations from that freedom are discussed and compared with the provisions of the TFEU discussed in the first part of the thesis. The case-law of the EFTA Court is explored to see how and to what extent it has followed the case-law of the ECJ. Finally, seeing as they are a major restriction on the free movement of capital, the Icelandic capital controls are examined and reactions to them.