The Larosiere Report - the Road to Financial Stability in the European Union

Ionescu Iancu Octavian ()
Additional contact information
Ionescu Iancu Octavian: PhD candidate, Academy of Economic Studies, Bucharest, Romania

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 1, 1653-1656

Abstract: The Larosiere commission was given by the European Commision president the dual task to research the causes of the present global financial crisis and come up with recommendations on how to reform the regulation of financial markets. The Larosiere commission published its report known as The Larosiere Report in February 2009. The report lays out a framework to take the European Union forward. Ambitious reforms are proposed, projected on two main dimensions: a macroprudential dimension and a microprudential dimension. The creation of a new European System for Financial Supervision covers the microprudential dimension and it refers to the transformation of the existing level 3 committees into 3 new European Authorities under one central institution. Regarding the creation of these new institutions two suggestions are presented: one about the cross sector cooperation between these institutions, and the second about the need to have a fiscal back-up, a fiscal power alongside the supervisory one in this newly created European System for Financial Supervision.

Keywords: The Larosiere Report; macroprudential dimension; microprudential dimension. (search for similar items in EconPapers)
JEL-codes: M4 M42 (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

Downloads: (external link)
http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/rezumatemai2010.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:10:y:2010:i:1:p:1653-1656

Access Statistics for this article

Ovidius University Annals, Economic Sciences Series is currently edited by Spatariu Cerasela

More articles in Ovidius University Annals, Economic Sciences Series from Ovidius University of Constantza, Faculty of Economic Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Gheorghiu Gabriela ().