 Financial regulation and supervision in the European Union after the crisisLucia Quaglia Journal of Economic Policy Reform, 2013, vol. 16, issue 1, 17-30 Abstract: The global financial crisis challenged the existing architecture for financial services regulation and supervision in the European Union (EU). This article first examines the new pieces of legislation that were issued by the EU in the wake of the crisis, as well as substantial revisions of existing EU legislation. Second, it conducts an overall assessment of the reforms implemented and highlights some open issues that were underscored by the crisis and that were only partially addressed afterward. It is argued that the framework for financial regulation and supervision in the EU after the crisis is still poorly equipped to deal with (or to prevent) future financial crises mainly because of the political constraints encountered during the reform process. One of the most important lessons to be drawn is that political factors are as important as (if not more important than) economic factors in shaping financial services regulation and supervision in the EU (and, arguably, elsewhere). Date: 2013 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:jecprf:v:16:y:2013:i:1:p:17-30 Ordering information: This journal article can be ordered from DOI: 10.1080/17487870.2012.755790 Access Statistics for this article Journal of Economic Policy Reform is currently edited by Dr Judith Clifton More articles in Journal of Economic Policy Reform from Taylor and Francis Journals |
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