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The moratorium on loan repayments during the Covid-19 Pandemic in Europe: a comparative analysis of loan moratoria in selected European countries

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  • Jan Skrabka

    (Prague University of Economics and Business, Czech Republic)

Abstract

This paper examines the moratorium on loan repayments, which was intended to relieve debtors in a difficult situation during the COVID-19 pandemic. In this study, various aspects of such moratoria are critically discussed and compared from an international perspective. Some debtors were significantly hit hard by the pandemic, whereas others were no. But should the moratoria apply to all of them? The free-rider problem, or even harm to some clients, are among the unintended results of the moratorium. Moreover, the loan repayment moratorium has different effects on the traditional banking sector and on P2P lending platforms. Such differences were not discussed sufficiently before adopting the moratoria. The different effects might have a negative impact on some debtors, on some creditors, or on the market and society in general. Along with using some traditional legal research methods, this paper takes a comparative perspective on loan repayment moratoria in different EU countries among. The conclusions of the paper may help regulators and lawmakers prepare more balanced regulations of loan repayments in the next crisis. Future regulations should reflect the perspectives of both debtors and creditors.

Suggested Citation

  • Jan Skrabka, 2021. "The moratorium on loan repayments during the Covid-19 Pandemic in Europe: a comparative analysis of loan moratoria in selected European countries," Perspectives of Law and Public Administration, Societatea de Stiinte Juridice si Administrative (Society of Juridical and Administrative Sciences), vol. 11(Special I), pages 291-301, October.
    • Handle: RePEc:sja:journl:v:11:y:2021:i:special:p:291-301
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    References listed on IDEAS

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    1. Ahmad Al-Fadly, 2020. "Impact of COVID-19 on SMEs and employment," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(2), pages 629-648, December.
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    Cited by:

    1. Mădălina-Elena Stratone & Elena-Mădălina Vătămănescu & Laurențiu-Mihai Treapăt & Mihaela Rusu & Cristian-Mihai Vidu, 2022. "Contrasting Traditional and Virtual Teams within the Context of COVID-19 Pandemic: From Team Culture towards Objectives Achievement," Sustainability, MDPI, vol. 14(8), pages 1-19, April.

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    More about this item

    Keywords

    Loan repayment; loan repayment moratorium; moratorium; banking; P2P lending; banking law; COVID-19.;
    All these keywords.

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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