scholarly journals State Aid in the European Union Competition Policy in the Context of the Financial Crisis

Equilibrium ◽  
2011 ◽  
Vol 6 (3) ◽  
pp. 43-58
Author(s):  
Krzysztof Rutkiewicz
Keyword(s):  
European Union ◽  
Financial Crisis ◽  
Financial Services ◽  
Competition Policy ◽  
Global Financial Crisis ◽  
State Aid ◽  
Point Of View ◽  
The European Union ◽  
The Global Financial Crisis ◽  
Union Competition

The main subject of the paper is the issue of granting state aid discussed from the point of view of the most important changes in the European Union competition policy as a result of the global financial crisis. The author makes a review of state aid related to the financial crisis in the European Community. The article includes a detailed description of reasons for the economic interventions which has been designed and taken by the Member States in the form of various schemes, plans and objectives. The directions of the main changes in the structure of state aid granted to the financial institutions in absolute and relative terms are shown. It was essential to notice the significant European Commission’s role ensuring that large support schemes for the financial sector will be implemented in compliance with the state aid rules and do not create undue distortions of competition. The paper contains numerous legal materials, including primary and secondary legislation, as well as European case law. The author also relied on the literature and articles on the notified state aid connected with the financial services sector and banking crisis.

scholarly journals Os Efeitos da Crise Mundial e a Defesa da Política de Concorrência da União Europeia

2015 ◽  
Vol 10 (2) ◽  
Author(s):  
Rômulo Magalhães Fernandes
Keyword(s):  
European Union ◽  
Financial Crisis ◽  
Competition Policy ◽  
Global Financial Crisis ◽  
Market Regulation ◽  
The European Union ◽  
European Continent ◽  
Economic Agents ◽  
Market Practices ◽  
The Global Financial Crisis

OS EFEITOS DA CRISE MUNDIAL E A DEFESA DA POLÍTICA DE CONCORRÊNCIA DA UNIÃO EUROPEIA  THE EFFECTS OF THE CRISIS AND THE DEFENSE OF THE EUROPEAN UNION’S COMPETITION POLICY Rômulo Magalhães Fernandes* RESUMO: A política de concorrência na União Europeia desempenha um papel fundamental na consolidação do mercado interno do continente europeu, na medida em que regula os agentes econômicos com objetivo de evitar abuso de posições dominantes e práticas desleais no mercado. Num contexto dos efeitos da crise financeira mundial e com o alargamento dos mercados da União Europeia, novos desafios (ou mesmo limites) se apresentam na aplicação do sistema jurídico e na atuação das instituições que regulamentam a matéria de concorrência. Neste sentido, o presente artigo pretende analisar o direito de concorrência na União Europeia, destacando os desafios e entraves para consolidação dessa política na atualidade. PALAVRAS-CHAVE: Política de concorrência da União Europeia. Tratado de Lisboa. Crise financeira mundial e regulação do mercado. ABSTRACT: The European Union’s competition policy plays a key role in consolidating the internal market of the European continent, in that it regulates the economic agents in order to avoid abuse of market dominance and unfair market practices. In the context of the global financial crisis and the enlargement of the European Union markets, new challenges (or limits) are presented in the application of the legal system and the role of institutions governing the competition. In this sense, this article aims to analyze the competition law in the European Union, highlighting the challenges and barriers to consolidation of this policy today. KEYWORDS: European Union’s competition policy. Lisbon Treaty. Global financial crisis and market regulation. * Mestrando em Direito Público na Pontifícia Universidade Católica de Minas Gerais (PUC/MG). Especialista em Ciências Criminais (FIJ/RJ), Prática Forense (Centro Universitário Newton Paiva/MG) e Gestão Pública com ênfase em políticas de raça e gênero (UFV/MG).

scholarly journals Dispersion of inflation expectations in the European Union during the global financial crisis

Equilibrium ◽  
2016 ◽  
Vol 11 (4) ◽  
pp. 737 ◽  
Author(s):  
Jan Acedański ◽  
Julia Włodarczyk
Keyword(s):  
European Union ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Inflation Expectations ◽  
The European Union ◽  
Member States ◽  
Inflation Rates ◽  
Initial Drop ◽  
The Global Financial Crisis ◽  
The Impact

Inflation expectations, both their median and dispersion, are of great importance to the effectiveness of monetary policy. The goal of this paper is to examine the impact of the global financial crisis on dispersion of inflation expectations in the European Union. Using European Commission’s survey data, we find that in the early phase of the crisis the dispersion dropped rapidly but then, after Lehman Brothers’ collapse, the trend reversed and these fluctuations cannot be explained by movements of inflation rates and other commonly used factors. We also observe that, in the new European Union member states, the initial drop of the dispersion was weaker whereas the subsequent rise was stronger as compared to the old member states.

scholarly journals THE IMPACT OF THE GLOBAL ECONOMIC CRISIS ON THE POLAND

2021 ◽  
Vol 9 (4) ◽  
pp. 202-208
Author(s):  
Aleksandra Korczyc
Keyword(s):  
European Union ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Global Analysis ◽  
Modern World ◽  
The European Union ◽  
Remedial Actions ◽  
The Government ◽  
The Global Financial Crisis ◽  
The Impact

Purpose of the study: This study aims to present the specifics of the global financial crisis, the threats it brings for Poland in the legal sphere, and possible actions to be taken in this area, particularly at the European Union and Poland level. Methodology: The article uses the historical method and the analysis of documents both at the Polish and European Union levels, including laws, regulations, and decisions. Main Findings: The scope of the financial crisis in question and its relatively easy transfer between markets entails the necessity to apply extraordinary remedial actions. Poland, through its participation in the European Union, seems to be relatively well protected against the effects of the financial crisis. However, it needs to undertake further structural reforms, in particular reforms of public finances. Applications of this study: The current study is highly significant for the government of the day in this modern world; the study could be quite effective and meaningful for Higher Education Institutions, government, banks, financial institutions. Novelty/Originality of this study: Description of the essence of the financial crisis, possibilities of its prevention - earlier possibilities of remedial actions at the institutional and legal level, possibilities of obtaining financial support, global analysis of the problem, including its causes.

scholarly journals Comparative Analysis of Financial Stability Policy of The National Bank of Serbia and The European Central Bank

2015 ◽  
Vol 53 (2) ◽  
pp. 142-161
Author(s):  
Mirjana Jemović ◽  
Borko Krstić
Keyword(s):  
European Union ◽  
Financial Services ◽  
Financial Stability ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
System Stability ◽  
The European Union ◽  
National Bank ◽  
The Global Financial Crisis ◽  
The Eu

AbstractThe Republic of Serbia has successfully completed the first part in the European Union integration process, being granted candidate status for membership in the European Union (EU). The stage of accession negotiations is in progress, and it includes the full harmonization with the EU acquis, whereby the analytical review of legislation, the so-called screening is being carried out in 35 chapters. The global financial crisis that affected our country in 2008 has required a timely reaction of the National Bank of Serbia (NBS) in order to preserve the financial system stability, especially the banking sector as its most important segment. As the financial services sector adjusts within chapter 9, the aim of this paper is to assess the level of compliance of national legislation with the EU legislation regarding banking sector. Along with the regulatory initiatives in the field of preserving financial stability in the EU countries, the NBS has paid great attention to the harmonization of its financial stability policy with the financial stability policy of the European System of Central Banks (ESCB).

Environmental Policy in Times of Crisis

2018 ◽  
pp. 133-151
Author(s):  
Simona Davidescu
Keyword(s):  
European Union ◽  
Renewable Energy ◽  
Environmental Policy ◽  
Financial Crisis ◽  
Qualitative Analysis ◽  
Global Financial Crisis ◽  
Policy Formulation ◽  
The European Union ◽  
Policy Failure ◽  
The Global Financial Crisis

This chapter employs qualitative analysis to apply the Index of Policy Activity (IPA) to a relative newcomer to the European Union, Romania. The chapter analyses renewable energy legislation, and finds that the unexpected success of Romania in this policy area is actually a case of ‘reluctant and accidental compliance’ over the period 2008–17. The chapter reveals a case of active, high visibility dismantling from 2013 onwards, which domestic politicians consistently linked to the global financial crisis of 2007–8. However, the analysis suggests that past legacies, sloppy and vague policy formulation, and lack of learning were actually the real drivers of policy failure in Romania and therefore of policy dismantling.

Sign in / Sign up

Export Citation Format

Share Document