Język Polski
English
Published
:
2013-06-30
The Fiscal Crisis in the European Union and the Effectiveness of Prudential Regulations in Mitigating the Effects and the Risk of Future Crises
Jacek Pera
Abstract
The current financial crisis has clearly demonstrated the inadequacy of existing institutional arrangements for financial supervision in the EU. It has also revealed an urgent need to overhaul the European financial system and address the problems of the ESSF. If these objectives are to be embodied throughout the EU, it is necessary to restructure the financial supervision system in its institutional (bodies responsible for prudential supervision at micro and macro level), as well as regulative (e.g. deposit guarantee systems), and regulatory aspects (requirements imposed by supervisory bodies). These measures should ultimately result in complete reconstruction of the financial security mechanisms in all member states. It is beyond a doubt that they will also be critical to the future of European integration.(original abstract)Keywords:
Financial crisis, Financial market supervision, Financial securityDetails
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Citation rules
Pera, J. (2013). The Fiscal Crisis in the European Union and the Effectiveness of Prudential Regulations in Mitigating the Effects and the Risk of Future Crises. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 48(3). Retrieved from https://journals.wsb.poznan.pl/index.php/znwsb/article/view/1870