Brussels, 05/05/2011 (Agence Europe) - The expert group established by the European Commission in 2010 delivered a 100-page feasibility study on a future initiative on European contract law on Tuesday 3 May. Commissioner Vivane Reding is keen on such a law as an optional instrument and an alternative to existing national laws. The issue was raised over 10 years ago and the Commission would like to see it become a reality in order to dispel current disparities, which, the Commission says, are harmful to businesses and consumers alike. The study covers a whole series of practical issues in this area. Its publication was hailed by the Commission as a “major step” towards a future European contract law instrument. European SMEs and consumers' representatives, however, sounded a note of caution over an instrument which they claim could create more legal uncertainty and, if the European instrument proved to be less rigorous that some national laws, could even reduce consumer protection. (S.P./transl.rt)