Mercado interior (IV): libre circulación de capitales y pagos
Author | VÍctor M. Sánchez (Dir.) - Maria Julia Barceló |
Pages | 315-319 |
Page 315
El Capítulo 4 del Título III de la Tercera parte del TCE (art. 56 a 60) se abre bajo el rótulo ‘Capital y pagos’ y contiene la regulación de la libre circulación de capitales y pagos (LCC). Esta libertad, según dispone el art. 56 TCE, se traduce en la prohibición de restricciones al libre movimiento de capitales y de pagos corrientes entre los estados miembros y entre estos y terceros países. La LCC cierra las cuatro libertades fundamentales de la Unión Europea. El incremento del grado de integración económica en el seno de las Comunidades tuvo como corolario la progresiva integración financiera de los estados participantes. La LCC está muy ligada tanto a la consecución del mercado interior como al objetivo de la Unión Económica y Monetaria (UEM). La implantación de la libre circulación de capitales el 1 de julio de 1990 representó una primera fase de la UEM que culminó con la introducción posterior del euro.
De conformidad con la jurisprudencia del TJCE, esta libertad comporta la supresión de todas las restricciones a los movimientos de capitales que pertenecen a las personas físicas o jurídicas, residentes en el territorio de los estados miembros, así como cualquier tipo de discriminación por razones de nacionalidad, residencia de las partes en la transacción o lugar de ubicación de la inversión. Sobre esta libertad debemos decir que, tras sus etapas sucesivas de evolución, ha superado propiamente el ámbito comunitario. Actualmente la libre circulación de capitales se ha extendido al flujo de capitales y pagos entre estados miembros y terceros países, de acuerdo con el art. 56.2 TCE. Este proceso de globalización de la circulación de capitales sólo se ve limitado por las excepciones, puntuales, recogidas en el art. 57 TCE.
Page 316
Se entiende por «movimientos de capitales» las transferencias de capital de carácter autónomo de un estado miembro a otro estado miembro, o dentro el mismo estado, las transferencias a un no residente, diferentes de los pagos que se producen como contraprestación monetaria de otra transacción económica (el comercio de mercancías, la libre prestación de un servicio, incluso el propio servicio de prestación de servicios financieros, etc.).
La jurisprudencia el TJCE ayudó inicialmente a delimitar las diferencias entre los conceptos «movimientos de capitales» y «pagos corrientes» en el caso Luisi e Carbone. A través de este pronunciamiento el TJCE estableció que: «los pagos corrientes son trasferencias de divisas que constituyen una contraprestación en el marco de una transacción subyacente, mientras que los movimientos de capital son operaciones financieras que pretenden esencialmente la colocación o la inversión de la cantidad correspondiente y no la remuneración de una prestación»101.
La plena entrada en vigor de esta libertad, ahora con efectos directos, no se...
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- Lecciones de derecho de la Unión Europea
- ¿Qué es la Unión Europea?
- Presentación
- Glosario
- Configuración histórica de la Unión Europea
- Miembros y ampliación
- Objetivos
- Pilares
- Competencias
- Cooperación reforzada
- Modelo organizativo
- Comisión
- Consejo de la Unión Europea
- Parlamento Europeo
- Tribunal de Justicia de las Comunidades Europeas y otros tribunales
- Otros órganos
- ¿Cómo se crea derecho en la UE?
- Presupuesto
- Ordenamiento jurídico comunitario (I): derecho primario, principios generales y acuerdos internacionales
- Ordenamiento jurídico comunitario (II): derecho derivado
- Otras fuentes del derecho de la UE
- Relaciones entre el derecho comunitario y los ordenamientos jurídicos de los estados miembros
- Tutela judicial (I): competencia contenciosa
- Tutela judicial (II): competencia consultiva, prejudicial y arbitral
- Vías no jurisdiccionales de tutela de los derechos de los particulares
- Mercado interior (I): libre circulación de mercancías
- Mercado interior (II): libre circulación de trabajadores
- Mercado interior (III): derecho de establecimiento y libre prestación de servicios
- Mercado interior (IV): libre circulación de capitales y pagos
- Anexo
- Lecturas recomendadas
- Indice de jurisprudencia
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