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From Bagehot to Brussels: A Review of Which Lender of Last Resort for Europe (Charles A. E. Goodhart, ed.)


  • John Pattison



This article reviews Which Lender of Last Resort for Europe (Charles A.E. Goodhart, ed.). This book addresses the role and functioning of a lender of last resort within the institutional structure of the single European market and the European Monetary Union. The matters reviewed include the following. Does the euro raise the level of financial and systemic risk in Europe? Which financial regulatory and supervisory functions require centralization under EMU? What are the institutional, political, and coordination issues? What is the effect of the evolving European institutional structure on moral hazard? Copyright Kluwer Academic Publishers 2001

Suggested Citation

  • John Pattison, 2001. "From Bagehot to Brussels: A Review of Which Lender of Last Resort for Europe (Charles A. E. Goodhart, ed.)," Open Economies Review, Springer, vol. 12(4), pages 443-455, October.
  • Handle: RePEc:kap:openec:v:12:y:2001:i:4:p:443-455
    DOI: 10.1023/A:1017995219690

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    References listed on IDEAS

    1. Garcia, Gillian, 1989. "The Lender of Last Resort in the Wake of the Crash," American Economic Review, American Economic Association, vol. 79(2), pages 151-155, May.
    2. Franco Bruni & Christian de Boissieu, 2000. "Lending of Last Resort and Systemic Stability in the Eurozone," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
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