The Regulation of the European Financial Market after the Crisis

Pedro Gustavo Teixeira

Chapter 1 in Europe and the Financial Crisis, 2011, pp 9-27 from Palgrave Macmillan

Abstract: Abstract The financial crisis challenged the legal and regulatory approach to the integration of the single market for financial services.2 In this approach, the economic benefits of integration are shared while the related economic and financial risks are not mutualized among Member States. This implies that Member States are compelled to protect their own domestic interests in the case of a crisis. As a result, the financial crisis led to an institutional crossroads: the development of the single financial market should be either constrained to allow Member States to protect their respective financial systems or safeguarded by setting up European structures for regulation and supervision of the single market as a whole.

Keywords: Financial Crisis; Euro Area; European Banking Authority; Sovereign Debt Crisis; European Financial (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-30500-7_2

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DOI: 10.1057/9780230305007_2

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