Iceland, the EFTA Court and the indexation of credit to inflation: operating in nature ex-post but need to calculate and disclose ex-ante.A law of contradiction?

Author:M. Elvira Mendez Pinedo
Position::School of Social Sciences, Faculty of Law, University of Iceland
Pages:7-39
SUMMARY

Indexation of credit to inflation (ex-post) is a unique legal practice in Iceland based on valorism theory on money vs. nominalism. Two rulings issued in 2014 by the EFTA Court try to clarify the legality and fairness of this particular price-variation clause under the European Economic Area consumer credit acquis. The study summarizes the rulings and analyses critically the interpretation... (see full summary)


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