Scholars generally agree that ‘independent institutions' have become a ubiquitous and pervasive feature of EU polity. The blossoming of regulatory agencies, the critical role of the European Court of Justice, the salient position of the European Central Bank and of the Commission (particularly...

This paper provides an economic analysis of the competition effects of UEFA's financial fair play regulations. It concludes that the restrictive effects of the break-even rule cannot be justified by a legitimate objective defense (according to European competition policy) because significant...