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4 Eur. Competition J. 1 (2008)

handle is hein.journals/eurcompet4 and id is 1 raw text is: European Competition Journal JUSTICE DELAYED ISJUSTICE DENIED: THE RULE OF LAW, ECONOMIC DEVELOPMENT AND THE FUTURE OF THE EUROPEAN COMMUNITY COURTS TIM COWEN* A. INTRODUCTION This article looks at the recent changes in the European Union (EU) both under the Reform Treaty' and in relation to the recognised need to complete the Single Market. In essence, the political intent is agreed and the goals have been set. The Reform Treaty has set a way of working among Member States. By contrast, the EU system of law and the method by which agreed political intent is implemented has not been reviewed, and this is addressed below. In this introduction the article highlights the importance of the rule of law and outlines the significant role of the European Community courts. Reference is made to recent reviews by the World Bank of the systems of law in different countries. This has established that the legal system can itself enhance or undermine investment, productivity and growth. The idea of the rule of law is often recognised as one that underpins the fabric of democracy In section A. 1, the thinking on the rule of law that goes beyond merely an instrumental view is canvassed. Simple legal instrumentalism sees law only as a vehicle for implementation of political intentions. This can be contrasted with the view that the legal system is part of the culture of a society through which norms of behaviour are expressed and applied. One issue for investment and GDP growth * Barrister, General Counsel and Commercial Director BT Global Services, Chairman IACCM & Chairman Competition Panel CBL This article has evolved over the past five years from discussions in many places, but principally at the British Institute of International and Comparative Law. The author would like to stress that the views expressed in this article are entirely his own and wishes to thank Lord Bingham, Sir David Edward and Dr Philip Marsden for their encouragement and comments. To Dr Brigitte Carbonare-Hartsleben for all of her contributions, assistance, encouragement and attention to detail, and Theodora Christou for her knowledge and patience. Without their help this article would never have been written. 1 Treaty of Lisbon amending the Treaty on European Union and the Treaty establishing the European Community, signed at Lisbon, 13 December 2007, OJ 2007/C/306/01. It is due to come into force in 2009, if successfully ratified by all EU Member States, and would carry out most of the reforms previously proposed in the rejected European Constitution. The Treaty of Lisbon amends the Treaty on European Union (TEU) (essentially the Treaty of Maastricht) and the Treaty establishing the European Community (TEC) (essentially the Treaty of Rome), which is renamed the Treaty on the Functioning of the European Union (TFEU). June 2008

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