Implications Of Banking Supervision Across The European Monetary Union, A Sovereign Debt Crisis Update
The current paper analyses the latest measures taken by the main European governing bodies with regard to the banking supervision across the European Monetary Union (EMU) following the ‘sovereign debt crisis’ phenomenon and its continuing effects throughout the Euro zone for the last five years. Officially preaching financial integration in order to ensure stability of the European banking system, most often the European governing bodies amplify the exact phenomena they expect to reduce doing more harm to both creditors and depositors and ultimately leading to a more fragile business banking environment. The importance of banks is acknowledged at European institutional level as main channel through which the monetary policy is triggered across EMU, therefore active measures have been taken in this regard. Questioning the extent to which these measures are legitimate and meet the purposes that they claim, constitutes the aim of the present paper. Another close linked purpose is a better understanding of what stability means, why it is important and what makes stability occur in a banking system. Having understood and set the theoretical grounds, it therefore follows easily to analyse through this glance the latest actions pursued by the European financial governing bodies focusing on the ones addressing supervision of the banking sector within EMU. The paper concludes and provides a set of recommendations by reminding the nature and role of banks for the real economy, the same objective the European financial governing bodies’ target, but which they consistently fail to meet.
Volume (Year): 7(2A) (2015)
Issue (Month): 2a (September)
|Contact details of provider:|| Web page: http://cse.uaic.ro|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lucia Quaglia, 2013. "Financial regulation and supervision in the European Union after the crisis," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 16(1), pages 17-30, March.
- David Prychitko, 2010. "Competing explanations of the Minsky moment: The financial instability hypothesis in light of Austrian theory," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(3), pages 199-221, September.
- Angel Ubide, 2013. "How to Form a More Perfect European Banking Union," Policy Briefs PB13-23, Peterson Institute for International Economics.
- Cihák, Martin & Podpiera, Richard, 2008. "Integrated financial supervision: Which model?," The North American Journal of Economics and Finance, Elsevier, vol. 19(2), pages 135-152, August.
- Frederic S. Mishkin, 2001. "Prudential Supervision: What Works and What Doesn't," NBER Books, National Bureau of Economic Research, Inc, number mish01-1, 01.
- David Howarth & Lucia Quaglia, 2014. "The Steep Road to European Banking Union: Constructing the Single Resolution Mechanism," Journal of Common Market Studies, Wiley Blackwell, vol. 52, pages 125-140, November.
When requesting a correction, please mention this item's handle: RePEc:jes:wpaper:y:2015:v:7:i:2a:p:479-488. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Alupului Ciprian)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.