Multilateral cooperation European organisations and fora EEA Liechtenstein’s membership in the European Economic Area (EEA) has proven to be an appropriate integration solution for the country. Thanks to the EEA Agreement, new business opportunities have been developed, leading to further diversification of the Liechtenstein economy. It has turned out that the EEA Agreement can be administered with a reasonable amount of effort. Overall, positive conclusions can be drawn from Liechtenstein’s 17 years of EEA membership so far. EEA membership offers the best starting point for any necessary further development or even deepening of European integration. The developments relevant to Liechtenstein in the area of European integration are monitored continuously and appraised in terms of their impact. Liechtenstein’s simultaneous participation in two economic areas, namely the EEA and the customs and currency area of Switzerland, raises questions of compatibility that are likely to increase further in the future. Switzerland’s bilateral path makes it more difficult to find solutions. Such problems of compatibility can currently be seen for instance in the regulation of payment transactions. When the EEA Agreement was signed in 1991, the European acquis communautaire was made up of 1,500 legal acts. Each year, between 200 and 390 new EU legal acts are incorporated.6 By 15 June 2012, 6,603 EU legal acts relevant to Liechtenstein were covered by the EEA Agreement. It cannot be denied that EEA membership has led to a higher density of regulation, not always in a desirable way. The EEA states have committed themselves to maintaining a 99% rate of implementation of EU directives. The Liechtenstein rate has been between 99.2% and 99.6% since 2008, which shows that Liechtenstein not only is able to meet the demands of extensive integration in the Single Market, but has also proven itself as a thoroughly reliable partner. In the period from 2008 to mid-2012, Liechtenstein was condemned by the EFTA Court for delayed implementation of four directives7. In the meantime, Liechtenstein’s legal Positive conclusions can be drawn from Liechtenstein’s 17 years framework has been adjusted accordingly. Four other judgements of the EFTA Court were issued on the basis of questions referred by Liechtenstein courts. In that time period, the European Court of Justice issued two judgements affecting Liechtenstein. of EEA membership. 6 2008: 219 EU legal acts; 2009: 284 EU legal acts; 2010: 347 EU legal acts; 2011: 373 EU legal acts. 7 2009: Reinsurance Directive (Case E-3/09) and Merger Directive (Case E-7/09); 2010: Professional Qualifications Directive (E-9/10) and Equal Treatment Directive (E-11/10). | 39