Brussels, 21/05/2007 (Agence Europe) - Monday evening's Competitiveness Council managed to scrape a political agreement by qualified majority on the proposed directive to harmonise rules within the EU on consumer credit (with the exception of mortgage loans), covering pre-contractual or contractual information to be provided to the consumer, the cooling-off period, which has been set at 14 days, and the harmonised method to calculate the effective annual credit rate.
The persistence of the...