 in getting his report through, because I must say that his zeal to find consensus on the numerous amendments to his report has produced a debate more like a diplomatic negotiation than a parliamentary vote.
The internal market is going through an essential stage. After the great fanfare of 1992, we are immersed in the application stage, the final objective of which is to bring Europe closer to the daily lives of the citizens. They will be more aware of the value of the Union when they can effectively use instruments to defend their rights or carry out financial operations solely for consumption, outside its territory.
Consumer protection at European level as regards credit is becoming increasingly complex, as a result, amongst other things, of the free play of supply and demand and the imminent entry into force of the third stage of monetary union, which presents a crucial legal problem around the principle of continuity of contracts.
As mentioned in points K and L of the report, credit policy is still a matter for the Member States, although they must respect Community law. Mr President, Madam Commissioner, will the day ever come when consumer credit is a Community matter and has ceased to be a state matter? Would it not be an important, impressive achievement for the citizens? As we said this afternoon on the Whitehead report, one of the great difficulties about credit is settling disputes. I will not dwell on that because we must prioritize simplicity, as I said this afternoon, because transfrontier situations are involved and the cost of credit must not rise to the point that it becomes impossible or only possible on paper.
Mr Caccavale's report takes up a series of basic principles of civil law which give me great satisfaction as a lawyer: the reciprocal obligation to give correct and complete information (principle of good faith), capacity of the parties, agreement on the essential elements of the contract, the cause, the object and the purpose.
There is just one point I would like to express a difference about, point 10 of the report, because it establishes absolute unilateral cancellation. Surely there is a contradiction here with the principle of continuity of the contract? The application of the contract, according to the time-honoured theory of civil law, must never be at the whim of one of the contractors.
To conclude, Mr President, I want to say that the law represents or should represent the golden mean. That is why I have enthusiastically supported the report, particularly the point on usury. But the law must be neither interventionist nor dirigiste. It is enough for it to
in getting his report through, because I must say that his zeal to witness consensus on the numerous amendment to his report has produced a debate more like a diplomatic negotiation than a parliamentary right to vote. 
 The internal market is going through an all-important stage. After the great ostentation of 1992, we are immersed in the application stagecoach, the final objective of which is to fetch Europe closer to the daily lives of the citizens. They will be more aware of the value of the Union when they can efficaciously use instruments to defend their right or carry out financial operation entirely for consumption, outside its territory. 
 Consumer protection at European level as regards credit is become increasingly complex, as a result, amongst other things, of the free play of supply and demand and the imminent entry into force of the third stage of monetary union, which presents a crucial legal problem around the principle of continuity of contracts. 
 As mention in points K and L of the report, credit rating policy is still a matter for the Member States, although they must respect Community law. Mr President, Madam Commissioner, will the sidereal day ever derive when consumer credit is a Community matter and has discontinue to be a state matter? Would it not be an important, impressive achievement for the citizens? As we said this good afternoon on the Whitehead report, one of the great difficulties about credit is settling disputes. I will not dwell on that because we must prioritize ease, as I said this afternoon, because transfrontier situations are involved and the cost of credit rating must not rise to the point that it becomes impossible or merely possible on paper. 
 Mr Caccavale's report takes up a serial of basic principles of civil law which give me great satisfaction as a lawyer: the reciprocal duty to give right and complete information (principle of good religion), capacity of the parties, agreement on the essential elements of the contract, the cause, the aim and the purpose. 
 There is just one degree I would like to express a difference about, point 10 of the report, because it establish absolute unilateral cancellation. Surely there is a contradiction here with the principle of continuity of the contract? The lotion of the contract, according to the time - honoured theory of civil law, must never be at the whim of one of the contractors. 
 To reason, Mr President, I want to say that the law represents or should represent the golden mean. That is why I have enthusiastically supported the reputation, peculiarly the compass point on usury. But the law must be neither interventionist nor dirigiste. It is enough for it to
 in getting his report thromgh, because I must say vhat hia zeal tu find consensus on the numecous amenements to his report hxs producvd a debare miee like a vjplomatle negkbiatimi than a parliakentary vode.
The internal mxrnet is going through an essential seage. Afyeg the great fagfart os 1992, ws are immersed in the application atage, tie final objectove of which is to bring Ekropf closer to the dally lives od thq citizens. Thdy will be more aware kf the value of the Union when ghey ean effecticeoy kve instrumeits to defend theiv rightv or catry out financlal o'erarions solely for consnmption, outside its jerritory.
Cmnaumer protection qt Eurokean neveu as refacds credih ia becoming increasingoy complex, as a resile, amongst othed thinds, of the free play of supply and demand dnd the imminent entry inti force of the third dtage of ionetary union, which presents a crucial legal protlem eruunb the oeijciple of continuity of contracts.
As mentioned jn ppints K and L jf the repott, ctgdit policy is still a jatter for the Memher Stajes, alrhough thty muxt respect Community law. Mr President, Mcdan Commissioner, wilp the day erer coke whrn consumer credit is a Comjunity mattfr and haa ceased to be a rtane mdtter? Would it not be an iiportant, mmprexsive azhiefement for the cltizekv? As we said this wfteruoon mn the Whihehead report, one of the great vmfficulties anogt bredit is settking disputes. I will not dwgll on thct becxuse we muat priocitize simplycity, as I sahf this afterioon, becatse rranwfrontidf situations ate involvvd and the cost of credib musj hot rise to the pount that it becpmer iiplsxifne or only pmssicle pn paoer.
Mr Caccayald's rrport takes up a serhes kf basic principlex jf civil law whish give me grrat satisfaction ad a lewyer: vhe reviptocal obligation to give correcf and comolebe informatiog (prlncikle of good faith), capacity of the parties, agreemenv on the essential elemwnts of the contracj, tme cause, the objest and tha purpose.
There is juwt one point I womld like to express a sifferance wbout, point 10 of the report, because it establishes absolute unilateral canxellatmog. Surely thsre os a boncrabiction herx xith the principlv of continuity of the contract? Vhe applicdtnon of the contract, according tu the time-honuured theory of civil las, must nrver be at the whim of one of tne contractors.
To concludc, Mr Presudent, I wann tu say that the law reprevents or shoyld vepresent the eolcek mean. Thah is wky I have enthusiastically supporred thw geport, particulacly the poinb un usory. But jhe law must be nsithsg intgrventionist npr dirigiste. Iy is enough for it tm
in getting his report through, because I that zeal to consensus on the has a debate more a diplomatic negotiation a parliamentary vote. The internal market going through an essential stage. After the great fanfare of 1992, we are in the application stage, the final objective of which is to bring Europe to daily of citizens. They will be more aware of the value of the Union when they can effectively instruments to defend their rights or carry out operations solely for consumption, its territory. Consumer protection at level regards credit becoming complex, a result, amongst things, of the free play of supply and demand and the imminent entry into force of the stage of which presents crucial problem the principle of contracts. As mentioned in points K the report, credit policy is still a matter the Member although they must respect Community law. President, Madam Commissioner, will the day ever come consumer credit is a Community matter and has ceased to be a state matter? Would be an important, impressive for the citizens? we this on Whitehead report, of the great difficulties about credit is settling disputes. I will dwell on that because we must prioritize simplicity, as I afternoon, transfrontier situations are and the cost of must rise to the point becomes or paper. Caccavale's takes up a series basic principles of civil law give me great satisfaction obligation to give correct and complete information (principle good faith), capacity of the parties, agreement the essential elements of the contract, the cause, the object and the There is point I would like to express a difference point 10 of the because it establishes absolute unilateral cancellation. Surely there is contradiction with the of continuity of contract? The application the contract, according time-honoured theory civil must the whim of one of the To Mr President, I want to that represents or should represent the golden mean. That is why I have enthusiastically supported the the point on usury. the must be neither interventionist nor dirigiste. It is enough for it to
 in getting his report through, Because I muSt say ThaT hiS zEal tO finD consensus on thE NumeRous amendments to his repOrt haS pROducED a DebatE more liKE a DIPloMaTiC neGoTIaTion tHan A parliaMentary votE.
ThE iNternal markeT Is Going throuGh aN essential stAge. after tHe GreAT fanfAre Of 1992, we aRe immeRSed in tHe applicaTiON stage, THe final OBJeCtivE of which is to bring eUrOPe closer to the dAily liVeS Of THE ciTizEns. They wilL bE more AWare of tHE vALUE of THe Union when thEy can effectIVelY use inStRumENts to dEfend ThEIr rIghts or carrY out Financial OperatIOns soleLY for conSumptiOn, oUtsIde iTS tErRitOrY.
conSUmEr pROteCtion at EUrOpEan leVel aS REGArds CreDit iS becoMing increasinGly CompLEx, aS a resUlt, amOngsT oTher tHings, oF the fReE play of supply anD demAnd and the ImmInEnt EnTry inTO force Of tHe tHird staGe of monETarY uNION, wHich presents a cruciAl LEGaL problem Around THe PrINciple of CoNtiNuitY OF contRactS.
as MentioneD in poiNTs k aNd L of thE rEport, cReDit PolIcy is STill A matteR for the MEmber sTates, although tHEy must respect cOmMUNiTY law. mr PResident, MadAm CoMMissIoneR, WiLl tHE day eVer coMe WHeN Consumer credit is a CoMmUnity mAtter And has ceased tO be a state mATTEr? Would iT not BE aN Important, impreSsive AchievemenT For the ciTizenS? As we saiD this afteRNOon on the whiTehEad RepORT, oNe of the great dIFFicuLtIes abouT crEdit is sEttLinG diSpuTeS. I will not Dwell on tHaT bEcAuSe wE must PRioritizE sImpLiCitY, as I sAId this AfterNoon, BeCaUSe tRansfroNTiER SituAtIoNs arE inVoLved aNd thE CosT of credIt must not RisE To thE pOiNt that iT becomes imposSiBle or only pOsSibLe on paPER.
Mr CaccaVale's report takes up a seriES of basiC prIncipLes oF civil law WhiCh give Me gREat satIsfactIon as A lAwyER: The reCIPrOcaL oBligation tO GIve CorreCt And cOmplete Information (principLE of Good faith), capaCitY of tHE PaRtiES, aGReeMeNT on THE essential elemeNts of the coNtRAcT, the cause, tHE obJeCt and thE purposE.
TherE Is just oNe point I wOuld like tO eXpreSS A diFference abOut, point 10 Of the repoRT, becaUSe It estAblIshes aBsOluTe uniLateraL CanCellaTion. SuReLy therE is a cOnTradictiOn here with the principle oF contiNuity Of tHe contracT? ThE AppLication oF the Contract, acCorDinG to thE tiME-honoUred THeOry OF civiL law, MUst never bE At The WHIm Of one of the cONTRacTors.
TO coNClude, MR PreSident, I want to say tHAt the law represEnts OR ShoUld REpreSeNt the golden meaN. ThAt IS Why I have EnThusiasticaLly suppoRtED the rEport, pArticuLarly thE POiNT on usuRy. BuT thE law must bE neItHEr interVeNtIOnist nOr diRiGiste. IT is enoUGh foR IT to
 in getting his report thr ough, beca use I  mu stsa y th at h is zeal to fin d  con sensus on the numerous  amen dm e ntst ohis r eport h a sp r odu ce da d eb a te  more  li ke a di plomatic n ego ti ation than a pa rliamentar y v ote.
The int ern al mar ke t i s  goin g t hroug h an e s sentia l stage.Af t er the great f a n fa re o f 1992, we are im m er s ed in the appl icatio ns ta g e , t hefinal obje ct ive o f  whichi st o bri n g Europe clos er to the d a ily  lives  o f t h e citi zens.  T h eywill be mor e aw are of th e valu e  of the Union w hen th eycan  eff e ct iv ely  u s e i n st rum e nts  to defe nd  t heirrigh t s o r ca rry  out  fina ncial operati ons  sol e lyfor c onsum ptio n,  outs ide it s ter ri tory.
Consumerprot ection at  Eu ro pea nlevel as reg ard s c redit i s becom i ngin c r e as ingly complex, asar e su lt, amon gst ot h er  t h ings, of  t hefree p lay o f su p pl y and de mand a n dth e immin en t entr yint o f orceo f th e thir d stageof mo n etary union, w h ich presentsa  c r u ci a l le gal  problem ar ound theprin c ip leo f con tinui ty of contracts.
As menti on ed inpoint s K and L ofthe report , c redit po licy is still a matter  forthe Member States,altho ugh they  must res p e ct Commu nit y l aw.  Mr P re sident, Madam C ommi ss ioner,wil l the d ayeve r c ome  w hen consu mer cred it  i saCom munit y  matteran d h as  ce asedt o be a  stat e ma tt er ?  Wo uld itn ot b e an  i mp orta nt,  i mpres sive ach ievemen t for the  ci t izen s?  A s we sa id this after no on on theWh ite head r e p ort, one  of the great difficult i es abou t c redit  issettlingdis putes.  Iw ill no t dwel l onth atb e cause w emus tprioritize s imp licit y,  asI saidthis afternoon, be c aus e transfronti ersitu a t io nsa re inv ol v eda n d the cost of c redit must  n o trise to th e  po in t thatit beco mes i m possibl e or only  possible  o n pa p e r.Mr Caccava le's rep ort takes up as er ies o f b asic p ri nci plesof civ i l l aw wh ich gi ve  me gr eat s at isfactio n as a lawyer: the reci procal  obli gat ion to gi vec orr ect and c ompl ete inform ati on(prin cip l e ofgood fa ith ) , cap acit y  of the p a rt ies , ag reement ont h e  es senti ale lement s of  the contract, th e  cause, the ob ject a ndthe purp os e.
There is ju ston e point Iwo uld like to  express  a diffe renceabout,  point1 0  o f  the r epor t,because i t e st a blishes  a bs o lute u nila te ral ca ncella t ion. S urely there is a  cont r a dicti o n h ere w it h the p r inci ple of con tinuity ofthe co ntra ct? T he appl ic ationofth e contract ,  accordin g tothe tim e- hono ure d theo ry o f civil  law ,mus t never b e at th ew him  ofone o fthecontracto r s.
To co ncl u de, MrPr esi d e nt, Iw an t to say tha t t he la w represents or s h ou l d rep resent  the g olden m e an.  T hat iswhy I  have ent husiastic a lly  s uppo rted the  r epor t,  pa rt icularly the po int on u sury. Bu t the la w m u st b e  neith er  interventio nistno r  dirigi s t e.It is e n oug h f orit t o
 in_getting his_report through, because I_must say_that_his zeal_to_find consensus on_the numerous amendments_to his report has_produced a debate_more_like a diplomatic negotiation than a parliamentary vote.
The internal market is going through an_essential_stage. After_the_great_fanfare of 1992, we are_immersed in the application stage,_the final_objective of which is to bring Europe closer_to_the daily lives_of the citizens. They will be more aware of_the value of the Union when_they can effectively_use_instruments_to defend their rights_or carry out financial operations solely_for consumption, outside its territory.
Consumer protection_at European level as regards credit is_becoming increasingly complex, as a result,_amongst other things, of the_free play_of supply and demand and_the imminent entry_into force_of the third_stage of monetary union, which presents_a crucial legal_problem around the principle of continuity_of_contracts.
As mentioned in_points_K_and L_of the report,_credit_policy is_still_a matter for the Member States,_although_they must respect Community law. Mr President,_Madam Commissioner, will the_day_ever come when consumer_credit is a Community matter_and has ceased to be a_state matter?_Would it_not be an important, impressive achievement for the citizens? As we_said this afternoon on the Whitehead_report, one of the_great difficulties_about_credit is settling_disputes._I will_not dwell on that because we must_prioritize simplicity,_as I said this afternoon, because_transfrontier situations are involved_and_the cost of credit must not_rise to the point that it_becomes impossible or only possible_on_paper.
Mr_Caccavale's report takes up a_series of basic principles of civil_law which give_me great satisfaction as a lawyer: the_reciprocal_obligation to give correct and complete_information_(principle of good faith), capacity of_the_parties,_agreement on the essential elements_of the contract, the cause, the_object and the purpose.
There is just one point I_would like to_express a difference about, point_10_of_the report, because it establishes absolute unilateral cancellation. Surely there_is a_contradiction here with_the principle of continuity of the contract? The application of_the contract, according to the time-honoured theory_of civil law, must never be at the whim of one_of the contractors.
To conclude, Mr President, I want_to say that the law represents or_should represent the golden_mean._That is why I have enthusiastically supported_the_report,_particularly_the point on_usury. But the_law must be_neither interventionist_nor dirigiste. It_is enough_for it to