Future of the European Financial Supervision System

Budoucnost uspořádání dohledu nad finančním trhem Evropské unie

Soňa Machová

Český finanční a účetní časopis, 2012, vol. 2012, issue 4, 87-101

Abstract: There are mainly three possible options of the future developments in the financial supervisory framework of the EU: (1) the status quo with the possible partial modifications; (2) to create a specific regime for cross-border financial groups, or (3) creation of the European Supervision System along the lines of the European System of Central Banks. In terms of long-term development of financial markets and supervisory framework needs the third option presents the most suitable solution. However, due to the fact that its practical implementation is limited by a number of key assumptions and conditions, without their prior fulfillment the creation of such a system would be irresponsible decision. As we can see on the example of the euro area, risks associated with potential costs would far outweigh the expected benefits.

Keywords: Financial markets; Supervision; European Union; Finanční trhy; Dohled; Evropská unie (search for similar items in EconPapers)
JEL-codes: F55 G00 G18 (search for similar items in EconPapers)
Date: 2012
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DOI: 10.18267/j.cfuc.9

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