Rome I Regulation a—Mostly—Unified Private International Law of Contractual Relationships within—Most—of the European Union

The year 2009 was an important year in the development of unified private international law in the European Union. At the beginning of the year, Regulation (EC) No. 864/2007 on the law applicable to non-contractual obligations (Rome II) entered into force. And at the end of the year Regulation (EC) 593/2008 on the law applicable to contractual obligations (Rome I) followed suit. Hence, within one year significant parts of the private international law relevant to international business transactions have been unified within most of the Member States of the European Union. Further segments are to follow up on these developments.