Banking Crisis Management in the EU: An Interim Assessment
AbstractDirector Jean Pisani-Ferry and Senior Fellow AndrÃ© Sapir provide an in-depth examination of the the banking crisis in the European Union, starting with a discussion of the pre-crisis banking landscape and including an assessment of the management of the crisis and the lessons learned going forward. The authors argue that the EU was institutionally ill-prepared to manage the crisis, with the response characterised by ad hoc actions and a lack of transparency. They say, however, that coordination has remarkably not been impeded by a divide within the euro area and policy performance has been better than expected given the sub-optimal nature of EU financial institutional arrangements.
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Bibliographic InfoPaper provided by Bruegel in its series Working Papers with number 359.
Date of creation: Dec 2009
Date of revision:
Other versions of this item:
- Pisani-Ferry, Jean & Sapir, André, 2009. "Banking Crisis Management in the EU: An Interim Assessment," Economics Papers from University Paris Dauphine 123456789/12380, Paris Dauphine University.
- G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
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