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Future of the European Financial Supervision System
[Budoucnost uspořádání dohledu nad finančním trhem Evropské unie]

Author

Listed:
  • Soňa Machová

Abstract

There are mainly three possible options of the future developments in the financial supervisory framework of the EU: (1) the status quo with the possible partial modifications; (2) to create a specific regime for cross-border financial groups, or (3) creation of the European Supervision System along the lines of the European System of Central Banks. In terms of long-term development of financial markets and supervisory framework needs the third option presents the most suitable solution. However, due to the fact that its practical implementation is limited by a number of key assumptions and conditions, without their prior fulfillment the creation of such a system would be irresponsible decision. As we can see on the example of the euro area, risks associated with potential costs would far outweigh the expected benefits.

Suggested Citation

  • Soňa Machová, 2012. "Future of the European Financial Supervision System [Budoucnost uspořádání dohledu nad finančním trhem Evropské unie]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2012(4), pages 87-101.
    • Handle: RePEc:prg:jnlcfu:v:2012:y:2012:i:4:id:9:p:87-101
    DOI: 10.18267/j.cfuc.9
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    More about this item

    Keywords

    Financial markets; Supervision; European Union; Finanční trhy; Dohled; Evropská unie;
    All these keywords.

    JEL classification:

    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • G00 - Financial Economics - - General - - - General
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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