Gadatsch, N., Körner, T., Schnabel, I., Weigert, B., (2015), “Macroprudential supervision in the Eurozone: Beware of excessive expectations”, Voxeu, 3 Ιουνίου
There is a broad consensus that financial supervision ought to include a macroprudential perspective that focuses on the stability of the entire financial system. This column presents and critically evaluates the newly-created macroprudential framework in the Eurozone, with a particular focus on Germany. It argues that, while based on the right principles, the EU framework grants supervisors a high degree of discretion that entails the risk of limited commitment and excessive fine-tuning. Further, monetary policy should not ignore financial stability considerations and expect macroprudential policy to do the job alone.
Σχετικές Αναρτήσεις
- Tsoukalis, Loukas, (2015), “The Eurozone Crisis: The big picture”, Redesigning European Monetary Union governance in light of the eurozone crisis, Coleccion Monografias-Barcelona Center for International Affairs, Μάιος 2015.
- Cidob (ed.), (2015), “Redesigning European Monetary Union governance in light of the eurozone crisis”, Coleccion Monografias-Barcelona Center for International Affairs, Μάιος 2015