The European Monetary Union within the Coasean Transactional Framework – Some Remarks on Legal Remedies as an Instrument of Harmonization of the Europe


The paper concentrates on the possibility of indirect harmonization of compensation awarded for the infringement of the rights protected by the EC law. Within the literature the problem of the influence of the European monetary integration upon the legal harmonization has not been analyzed so far. In the present paper the theory of transactional framework (Calabresi & Melamed 1972, Ayres 2005) has been applied in order to analyze the potential economic consequences of the operation of the multilevel judicial governance structure which has been created in the European Union. The functional framework of the multilevel European judicial governance (Maduro, 2003; Petersmann, 2008) is thus to be analyzed from the perspective of the economic consequences of the European monetary integration (Rogoff, 1996; Rose, 2000).