European System of Central Banks in Fiscal Policy Community

Daniela Iuliana Radu ()

Knowledge Horizons - Economics, 2015, vol. 7, issue 2, 108-110

Abstract: European system of central banks contributes to the smooth conduct of policies pursued by the competent authorities relating to the prudential supervision of credit institutions and the stability of the financial system. Increasing the role of central banks created the impression that these institutions can solve all economic problems. As a result, governments, which previously did not look too great enthusiasm progressively increasing powers of central banks have begun to accept that they try to compensate for the shortcomings of their own economic policies - even if some legislators and representatives of the public s were concerned appeared democratic deficit by shifting the burden of economic policy making by an institution whose leadership is elected by universal suffrage.

Keywords: Eurosystem; central banks; fiscal policy; financial system (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:khe:journl:v:7:y:2015:i:2:p:108-110

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