Despite the high hopes for EU-wide financial stability invested in
the European Economic and Monetary Union, it is becoming more and
more evident that the limited supervisory role of the European
Central Bank has added to an already overcomplicated situation.
Although European regulatory competences are now increasingly
formalized through detailed rule making, they remain broad and
widely discretionary. It is still the many different national
authorities that are regulating or supervising banks and other
financial institutions. The root issue what is the relationship
between an effective European supervisor and the supervisory
functions that remain at the Member State level has not yet been
adequately addressed. Among the core issues of relevance analyzed
in the book are the following: the increase in systemic risk that
accompanies the introduction of the Euro; the inability of mere
cooperation between national authorities to handle crises; the
European Central Bank as an organizational model for the
development of a single European regulator; the persistence of a
traditional national character in surrounding areas of law such as
contract law and company law; the heretofore intractable problem of
the double burden of having to follow more than one set of national
rules; and the apparent inertia of major business players, in spite
of the obvious benefits for them of EU level regulation. Financial
Markets in Europe offers a large and welcome measure of clear
thinking to the entire professional community regulators, bankers,
scholars, insurance professionals, securities managers engaged in
the complex field of activity guided by monetary policy and
supervision of financial markets. Becauseit raises broad issues and
perspectives for a globalised world, it will be of value not only
in Europe but to financial services specialists everywhere.
General
Imprint: |
Kluwer Law International
|
Country of origin: |
Netherlands |
Release date: |
2003 |
First published: |
September 2003 |
Authors: |
Mads Andenas
• Yannis Avgerinos
|
Dimensions: |
156 x 234 x 27mm (L x W x T) |
Format: |
Hardcover
|
Pages: |
544 |
ISBN-13: |
978-90-411-2159-2 |
Categories: |
Books >
Law >
International law >
General
|
LSN: |
90-411-2159-5 |
Barcode: |
9789041121592 |
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