Suchergebnisse

The health of the economy and the effectiveness of monetary policy depend on a sound financial system. Bank supervision involves monitoring and examining the condition of banks and their compliance with laws and regulations. If a bank under the Central Bank's or other authority's jurisdiction is found to have problems or be non compliant with the authority of supervision may use its authority to request that the bank correct the problems. Bank regulation includes issuing specific regulations and guidelines to govern the operations, activities and acquisitions of banking organizations. On other hand, both theory (game theory) and practice (recent financial crisis) indicate that national interests prevail in cross-border resolution. National authorities aim for the least-cost solution for domestic taxpayers. This results in an undersupply of the public good of communautaire and global financial stability. To preserve the internal market in banking, this paper proposes a supranational approach to banking supervision and resolution in Europe.

The European Union is a rather new player in international relations. The European Union is neither a state nor international organization. With the accession to the European Union, the states transfer some attributes of sovereignty and, thus, the governing is done by the European Union mostly, taking part in its relations with third countries. At the same time, it contains some elements of the union (confederation, federation). Therefore, the European Union is more than an international organization. We find elements of the federation, confederation without being identified as such, being established on a system of organization. The European Union aims for integration of societies within a single economic, social, political, legal area. The European Union acts as a proper system based on an idea of creating strong Union bonds between the people of Europe, by establishing an internal market, an economical Union. The European Union, in its relations with the member states, keeps the ultimate goal that it has, being an international legal person, special competences, realizing common goals established with the member states. The legal basis of the European Union is represented by two treaties: the Treaty on European Union and the Treaty on the Functioning of the European Union. The well-known Lisbon Treaty represents legally an amending treaty of the previous legal instruments - a compromise between the need for reform, on the one hand, and the need to live in a united Europe, on the other hand. The member states of the EU relate to two legal systems. As a result of their participation in an international organization with supranational character, Member States of the European Union assume a number of commitments with repercussions to their state sovereignty. The Member States coexist with the European Union. The European Union has become, along with its Member States, a matter of international law; even if it shows itself as a conglomerate of states - international organization; it is a union of states established by state attributes, an entity more complex and powerful, with a higher importance with its relations with the Member States, but also with an increased influence on international arena.