Consumer Debt and Social Exclusion in Europe: 1st Edition (e-Book) book cover

Consumer Debt and Social Exclusion in Europe

1st Edition

By Hans-W. Micklitz, Irina Domurath


258 pages

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pub: 2015-06-28
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This book analyses the dichotomy between the goal of social inclusion and the effect of social exclusion through over-indebtedness since 2008 in Europe. Filling a vital gap in the current literature on the effects of the financial and economic crisis, this volume puts into context academic discussion with the real-life dimension of over-indebtedness. Reports from six European countries provide socio-economic and legal information on over-indebtedness as well as the regulatory and judicial responses to the problems entailed by over-indebtedness. They form the empirical background for five analyses of different aspects of the inclusion-exclusion dichotomy. It becomes clear that in the context of credit expansion, individual over-indebtedness has turned into a social issue, which the current design of the consumer credit and mortgage system in Europe has helped to produce while disregarding the consequential danger of social exclusion.


’From you've got to have money� vs social force majeure� towards a new societal and economic perspective on the regulation of household debt following the financial crisis. The analysis of the impact of the crisis on consumer law and consumer bankruptcy is both extremely topical and comprehensive.’ Thomas Wilhelmsson, University of Helsinki, Finland ’This is an excellent book which provides valuable insights into the responses of European States to economic crisis. The book highlights the risks of focusing on the macroeconomy while ignoring the plight of consumers and exacerbating over-indebtedness, and should be closely scrutinised by policy makers and academics alike.’ Therese Wilson, Griffith Law School, Australia ’This book, provoked by the financial crisis of the last years, is based on empirical studies in six European euro and non-euro jurisdictions, analysing the situation of over-indebted consumers and making proposals for improving their condition in case of insolvency. The book which takes on these important issues is indispensable reading for all working or interested in the field of financial services in the EU.’ Norbert Reich, University of Bremen, Germany

About the Authors

Hans-W. Micklitz is Professor of Economic Law, European University Institute, Italy. He also holds the position of Jean Monnet Chair of Private Law and European Economic Law at the University of Bamberg, Germany. Irina Domurath is a PhD fellow at the University of Copenhagen and the University of Iceland. She researches the interaction between risk, vulnerability, and over-indebtedness.

About the Series

Markets and the Law

Markets and the Law
Markets and the Law is concerned with the way the law interacts with the market through regulation, self-regulation and the impact of private law regimes. It looks at the impact of regional and international organizations (eg EC and WTO) and many of the works adopt a comparative approach and/or appeal to an international audience. Examples of subjects covered include trade laws, intellectual property, sales law, insurance, consumer law, banking, financial markets, labour law, environmental law and social regulation affecting the market as well as competition law. The series includes texts covering a broad area, monographs on focused issues, and collections of essays dealing with particular themes.

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Subject Categories

BISAC Subject Codes/Headings:
LAW / Commercial / General
LAW / Public