New EU rules came into force on 18 January to make it easier to recover cross-border debts, explains the European Commission in a press release. The new rules should speed up and lead to less costly recovery procedures for debts contracted in other member states, which should make life easier for companies, particularly small- and medium-sized companies (SMEs).
The Commission explains that some €600 million is lost each year due to cumbersome and costly legal procedures that prevent...