[18] It therefore makes sense to consider improving harmonisation in the European Union. A directive proposed by the European Commission in December points in this direction. It envisages aligning major aspects of rules on corporate insolvencies.
An effective insolvency framework has an even greater impact, also helping to ensure that resources are put to good use – for example, that capital flows from non-viable enterprises to viable ones. That would boost economic momentum, as OECD (Organisation für wirtschaftliche Zusammenarbeit und Entwicklung) research papers show.