Suchergebnisse

Although the drive to create a single market in the European Union (EU) was ostensibly about market liberalization, it has led to a recasting of the role of different tiers of government in the EU. Summarizes some of the main features of the new regulatory environment, and assesses factors shaping the evolution of rules and points to topics in need of further work. (Original abstract-amended)

THIS ARTICLE OUTLINES THE THREE MAJOR IDENTIFIABLE APPROACHES WHICH MAY BE TAKEN TOWARDS THE FUTURE REGULATION AND SUPERVISION OF BANKING IN THE EUROPEAN UNION (EU). A DISCUSSION OF THE REASONS FOR SUCH REGULATION AND PRUDENTIAL SUPERVISION IS FOLLOWED BY AN ASSESSMENT OF RECENT RELEVANT EXPERIENCE. THE VERY SUBSTANTIAL ECONOMIC COSTS OF POORLY DESIGNED REGULATION AND INADEQUATE SUPERVISION ARE ALSO ILLUSTRATED.