33Second, Directive 88/361, which applied at the material time, brought about complete liberalisation of capital movements and to that end Article 1(1) thereof required the Member States to abolish all restrictions on such movements. The direct effect of that provision was recognised by the Court in Joined Cases C-358/93 and C-416/93 Bordessa and Others [1995] ECR I-361, paragraph 33.
Source: EUR-Lex, © European Union, 1998-2026. Reuse authorised under Decision 2011/833/EU.