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1. Assessing the Single Supervisory Mechanism: Passing the point of no return for Europe's Banking Union

Author:
Stijn Verhelst
Publication Date:
06-2013
Content Type:
Working Paper
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
Europe's financial and sovereign debt crises have become increasingly interconnected. In order to break the negative feedback loop between the two, the EU has decided to create a common supervisory framework for the banking sector: the Single Supervisory Mechanism (SSM). The SSM will involve a supervisory system including both the national supervisors and the European Central Bank (ECB). By endowing the ECB with supervisory authority over a major part of the European banking sector, the SSM's creation will result in a shake-up of the way in which the European financial sector is being supervised. Under the right circumstances, this could be a major step forward in addressing Europe's interconnected crises.
Topic:
Debt, Economics, Regional Cooperation, Monetary Policy, and Financial Crisis
Political Geography:
Europe

2. The Reform of European Economic Governance : Towards a Sustainable Monetary Union?

Author:
Stijn Verhelst
Publication Date:
06-2011
Content Type:
Working Paper
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
The euro is a rather unusual currency as it is shared by a union of largely independent states. This results in a single supranational monetary union, while most 'economic' matters are decided on a national level. A key challenge in such a system is to ensure that the different levels of decision-making do not undermine the advantages of the common currency. For this reason, the European monetary union has been buttressed by economic integration, resulting in the Economic and Monetary Union (EMU).
Topic:
Debt, Economics, Monetary Policy, Financial Crisis, and Governance
Political Geography:
Europe

3. Renewed Financial Supervision in Europe – Final or transitory?

Author:
Stijn Verhelst
Publication Date:
03-2011
Content Type:
Working Paper
Institution:
EGMONT - The Royal Institute for International Relations
Abstract:
In order to obtain financial sector stability, adequate financial regulation and supervision are paramount. Despite their crucial role, both failed to prevent or at least mitigate the financial crisis. While financial regulation strives to impose a set of rules that ensure a safe and resilient financial sector, it has proven to contain too many gaps and loopholes.
Topic:
Debt, Economics, Markets, Monetary Policy, Financial Crisis, and Governance
Political Geography:
Europe