scholarly journals The First Steps Toward the Banking Union’s Implementation and Effects on the Eurozone Banking Sector

2017 ◽  
Vol 55 (1) ◽  
pp. 25-38
Author(s):  
Silvia Kirova
Keyword(s):  
Monetary Union ◽  
Banking Sector ◽  
The State ◽  
Economic And Monetary Union ◽  
Banking Union ◽  
Single Supervisory Mechanism ◽  
Current State ◽  
Single Resolution Mechanism ◽  
The World ◽  
High Level

Abstract The banking union in Europe was proposed in 2012 as one of the key measures to address the structural weaknesses of the Economic and Monetary Union. It was introduced at a time of a serious regulatory overhaul of the financial sector in all developed parts of the world. Now that its implementation has started with the launch of the Single Supervisory Mechanism and the start of the Single Resolution Mechanism it is time to review what is the state of play of the elements of the banking union and to analyse the effects of its implementation on the Eurozone banking sector. The paper looks at each one of the pillars of the banking union. Then the author analyses the current state of the Eurozone banking sector and tries to identify how the introduction of the banking union has influenced on the developments within that sector. The paper argues that the Eurozone’s banking sector has become more stable, better capitalised and its risks more controlled than in 2008 but this is at the expense of profitability. The Eurozone banking sector continues to exhibit a high level of non-performing loans. In part, this can be attributed to the banking union and the challenges it poses to the banking sector.

Book Reviews

2006 ◽  
Vol 56 (4) ◽  
pp. 455-468
Author(s):  
Zoltán Ádám ◽  
László Csaba ◽  
András Bakács ◽  
Zoltán Pogátsa
Keyword(s):  
Developing Countries ◽  
Fiscal Policy ◽  
Monetary Union ◽  
Economic And Monetary Union ◽  
European Studies ◽  
Eu Accession ◽  
East European ◽  
The World ◽  
The Government

István Csillag - Péter Mihályi: Kettős kötés: A stabilizáció és a reformok 18 hónapja [Double Bandage: The 18 Months of Stabilisation and Reforms] (Budapest: Globális Tudás Alapítvány, 2006, 144 pp.) Reviewed by Zoltán Ádám; Marco Buti - Daniele Franco: Fiscal Policy in Economic and Monetary Union. Theory, Evidence and Institutions (Cheltenham/UK - Northampton/MA/USA: Edward Elgar Publishing Co., 2005, 320 pp.) Reviewed by László Csaba; Piotr Jaworski - Tomasz Mickiewicz (eds): Polish EU Accession in Comparative Perspective: Macroeconomics, Finance and the Government (School of Slavonic and East European Studies, University College of London, 2006, 171 pp.) Reviewed by András Bakács; Is FDI Based R&D Really Growing in Developing Countries? The World Investment Report 2005. Reviewed by Zoltán Pogátsa

Summary and Appraisal

1990 ◽  
Vol 134 ◽  
pp. 3-6
Keyword(s):  
Monetary Union ◽  
World Economy ◽  
Oil Prices ◽  
Labour Party ◽  
Economic And Monetary Union ◽  
Economic Policies ◽  
Policy Options ◽  
Foreseeable Future ◽  
The World

Our forecasts, like those of the Treasury published in the Autumn Statement, are based on the assumption that oil prices will fall back next year, as the crisis in the Gulf is resolved. We describe briefly below what might be the consequences, for the world economy and for Britain, if oil prices were to be $45 a barrel for the foreseeable future, as might happen as a result of a long war.In Chapter I our main forecasts assume the continuation of existing economic policies, which we interpret as being consistent with a gradual move towards economic and monetary union. In Chapter III we consider some of the alternative policy options which might be considered if the Labour Party wins the next election.

Abwicklung von Banken

2019 ◽  
Author(s):  
Robin Blaß
Keyword(s):  
Financial Distress ◽  
Banking Sector ◽  
The Other ◽  
Banking Union ◽  
Public Funds ◽  
Single Resolution Mechanism ◽  
European Banking ◽  
Public Money ◽  
The Stability ◽  
Insolvency Proceedings

In this book, the author concerns himself with the EU’s banking union, whose establishment aims to further integrate the European banking sector and strengthen confidence in its stability. He focuses on the Single Resolution Mechanism (SRM), which was established as the second pillar of the banking union. With the help of the SRM, it should be possible in the future for even large banks to be in financial distress without endangering the stability of the entire financial system. The bank will be liquidated in accordance with the rules of the SRM if traditional insolvency proceedings are not feasible due to the caesura effect associated with them. In addition, as little public money as possible—at best no public funds at all—is to be spent on the resolution. The main purpose of this study is to ascertain whether the SRM can achieve this objective and how the SRM and the other pillars of the banking union interact with each other.

scholarly journals Central Bank Independence and Inflation IN EU-28

2017 ◽  
Vol 22 (4) ◽  
pp. 253-262
Author(s):  
Daniela-Georgeta Beju ◽  
Maria-Lenuţa Ciupac-Ulici ◽  
Codruța-Maria Fǎt
Keyword(s):  
European Union ◽  
Central Bank ◽  
Monetary Union ◽  
Central Banks ◽  
Central Bank Independence ◽  
Price Stability ◽  
Economic And Monetary Union ◽  
Great Level ◽  
Member States ◽  
High Level

Abstract Today, both policymakers and academicians consider that the central bank’s main goal is to guarantee price stability. The central bank can sustain the government’s economic policies, but only without prejudicing this objective. In order to focus on price stability several studies found that central bank should have a high level of independence. This is why during the recent decades the majority of developed countries, but also several emerging economies have employed institutional reforms that conferred their monetary authorities – the central bank – more independence. Within the European Union the central bank independence is a crucial issue, since the Maastricht Treaty stipulates that one requirement for joining Economic and Monetary Union for the candidate member states is to give their central banks a sufficiently high level of independence. This official requirement has encouraged the countries from Centre and East Europe engaged on the way to adhere the Economic and Monetary Union to confer their central bank a great level of independence. In this paper we analyze some important theoretic issues about central bank independence. We also make an empirical investigation regarding the evolution of inflation within European Union relative to the independence of member states’ central banks.

scholarly journals The European Banking Union: will it be Sufficient to Avert Another Debt Crisis in Europe?

2016 ◽  
Vol 6 (11) ◽  
pp. 15 ◽  
Author(s):  
Ross Alexander Spence
Keyword(s):  
Financial Crises ◽  
Debt Crisis ◽  
Banking Union ◽  
Member States ◽  
Single Supervisory Mechanism ◽  
European Banking Union ◽  
The Past ◽  
Single Resolution Mechanism ◽  
European Banking ◽  
Single Rulebook

<p>The rationales for the creation of the European Banking Union (“EBU”), what its objectives are and the main pillars of support for such a scheme, are worthy of investigation.  This article means to critically discuss the various elements of the EBU and determine whether the Single Supervisory Mechanism and the Single Resolution Mechanism, the main pillars underpinning the structure, are robust enough to avert another debt crisis in Europe. At the EBU’s heart lies the Single Rulebook (“SR”), which aims to counter the risk of fragmentation and nationalist tendencies. This inward looking trend became apparent in the recent financial crises, and contributed greatly to them. In an effort to avoid repeating the divisive and disjointed mistakes of the past, the SR is instead looking to provide unity and harmonisation across all participating member states. </p>

scholarly journals Towards a Genuine Economic and Monetary Union—Comments on a Roadmap

2013 ◽  
Vol 1 (1) ◽  
pp. 48-65 ◽  
Author(s):  
Ansgar Belke
Keyword(s):  
European Commission ◽  
Monetary Union ◽  
Euro Area ◽  
Fiscal Federalism ◽  
Economic And Monetary Union ◽  
Banking Union ◽  
Interim Report ◽  
Fiscal Union ◽  
The North ◽  
To Come

The Van Rompuy Report and also additional proposals made by the European Commission outlined steps for a 'genuine Economic and Monetary Union'. This article explains, assesses and comments on the proposals made. Moreover, it outlines what could be recommendations in order to achieve a 'genuine Economic and Monetary Union'. For this purpose, details of the Interim Report are systematically evaluated. We also deal with different governance visions emerging from the ongoing euro area crisis and starts from different views of the 'North and the South' of the euro area on this issue. This contribution argues that there is an alternative option to the notion of cooperative fiscal federalism involving fiscal union, bailouts and debt mutualisation: competition-based fiscal federalism accompanied by a properly defined banking union. In order to be a successful one, any deal will have to come up with a successful recipe of how to (re-)create trust between European citizens and their elected governments.

scholarly journals Peculiarities of cybercrime investigation in the banking sector of Ukraine: review and analysis

2021 ◽  
Vol 16 (1) ◽  
pp. 69-80
Author(s):  
Sergij S. Vitvitskiy ◽  
Oleksandr N. Kurakin ◽  
Pavlo S. Pokataev ◽  
Oleksii M. Skriabin ◽  
Dmytro B. Sanakoiev
Keyword(s):  
Criminal Law ◽  
Rapid Growth ◽  
Banking Sector ◽  
The State ◽  
Virtual Space ◽  
Survey Method ◽  
Current State ◽  
Effective System ◽  
Private And Public

The rapid growth in the number of cybercrimes committed in the banking sector requires the creation of an effective system for preventing such crimes and ensuring the cybersecurity of the state. The constant updating of means and methods for cybercrime commission necessitates the identification of effective measures to combat them. The paper uses a survey method to study the theoretical experience and practical measures to prevent cybercrime in the banking sector to identify effective ways to combat crime in the virtual space of Ukraine. The paper analyzes the experience of the world’s leading countries concerning cybercrime prevention, deals with measures to improve the level of cybersecurity of national and international cyberspace. It is concluded that the current state of cybersecurity in Ukraine does not meet contemporary requirements and needs initiating effective measures and coordinated cooperation between private and public sectors in order to effectively combat cybercrime, in particular: enshrining the classification of cybercrimes in the regulatory legal acts of Ukraine; introduction of the concept of “banking criminal law” in the scientific and legal sphere; creation of Ukrainian cyber forces, whose activities will be aimed at preventing and combating crimes committed in cyberspace.

scholarly journals Digital Archiving in Archaeology: The State of the Art. Introduction

2021 ◽  
Author(s):  
Julian D. Richards ◽  
Ulf Jakobsson ◽  
David Novák ◽  
Benjamin Štular ◽  
Holly Wright
Keyword(s):  
State Of The Art ◽  
The State ◽  
History Of Archaeology ◽  
Special Issue ◽  
Digital Archiving ◽  
Current State ◽  
The World ◽  
History Of

The articles in this special issue demonstrate significant differences in digital archiving capacity in different countries. In part these reflect differences in the history of archaeology in each country, its relationship to the state, whether it is centralised or decentralised, state-led or commercially driven. They also reflect some of the different attitudes to archaeology across the world, most recently explored in a survey conducted under the auspices of the NEARCH project. They reflect a snapshot in time, but our aim is to record the current state-of-the-art in each country, to inform knowledge, stimulate discussion, and to provoke change.

scholarly journals Quo Vadis Banking Union? Discussions over the Resolution of Banks

2018 ◽  
Vol 1 (333) ◽  
Author(s):  
Klaudia Alicja Zielińska
Keyword(s):  
Banking Sector ◽  
Banking Union ◽  
International Level ◽  
Final Structure ◽  
The Core ◽  
Single Resolution Mechanism ◽  
Review Procedure ◽  
Quo Vadis ◽  
The Right ◽  
Core Issues

Transferring the right to make the decision concerning a bank’s resolution onto the international level has long been the bone of contention between the European Union’s Member States. The aim of this article is to provide a review of the discussions on this topic, while attempting to evaluate whether the consensus reached allows the achievement of goals set for the resolution mechanism. The article is composed of five parts. The first part introduces the concept of single supervision over the banking sector and explains the importance of having harmonised resolution rules. The second part discusses the process of reaching a consensus towards the establishment of the Single Resolution Mechanism. That part is followed by a description of the final structure agreed for the mechanism back in 2014. The fourth part outlines the review procedure of the established regulations currently under way. The final part of the article summarises the contents and attempts to identify the core issues that still need to be resolved in order to guarantee reliability of the second pillar of the banking union.

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