From Saviour to Guarantor (eBook)

EU Member States’ Economic Intervention During the Financial Crisis

Fabio Bassan, Carlo D. Mottura (Autoren)

eBook Download: PDF

2015 | 1st ed. 2015
XVI, 159 Seiten
Palgrave Macmillan UK (Verlag)
978-1-137-44156-0 (ISBN)

Infos

This book uses a methodology combining law and finance to examine the rules surrounding state guarantees in the Eurozone.

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State guarantees commonly function as financial panacea, allowing states to consolidate banking systems and create intergovernmental funds. Rules surrounding state guarantees were relaxed during the 2007-2008 financial crisis, allowing states to use them for financing small and medium-sized enterprises (SMEs) and workers' severance payments. Despite many multi-level interventions in many areas after the financial crisis, from international treaties to EU regulations, no specific regulation has been put in place to control state guarantees. This book addresses the subject of state guarantees in the Eurozone, and questions the stability of the instruments implemented so far by states and by the European Union. Using a methodology combining law and finance, it examines the tools adopted by European institutions and Member States in the EU's evolving institutional context, in order to evaluate the effectiveness of the tools themselves as well as of the new European institutional framework. It also addresses the unconventional measures adopted by the European Central Bank, its role as safeguard for European state guarantees and its interaction with the European Union and national courts. In From Saviour to Guarantor the authors suggest that the absence of specific regulatory interventions and the variety and vagueness of existing rules has resulted in state guarantees further destabilising public international finance.

Autor

Fabio Bassan is Professor of International Economic Law and European Law at the Department of Business Studies, 'Roma Tre' University, Italy. He is Founding Director of the Sovereign Wealth Funds Law Centre, and his areas of interest include international law, European law, sovereign wealth funds, regulation of financial markets, corporate governance, corporate finance, law & economics, and the political economy of regulation.Carlo Mottura is Professor of Financial Mathematics, Financial Valuation and Risk Management at the Department of Business Studies at 'Roma Tre' University, Italy. His research interests include the control of risks, financial valuation under uncertainty, financial restructuring, and enterprise evaluation. He has also lead research projects funded by the Consiglio Nazionale delle Ricerche (CNR).

Produkt-Details

• Erscheint lt. Verlag: 25.8.2015
• Reihe/Serie: Roma Tre Business and Finance Collection
• Reihe/Serie: Roma Tre Business and Finance Collection
• Zusatzinfo: XVI, 159 p.
• Verlagsort: London
• Sprache: englisch
• Themenwelt: Technik
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
• Schlagworte: Banking • Banking System • Competition • credit derivatives • Default Risk • dependence structure • ESM • Euro • Finance • government guarantee • guarantee contract • Methodology • Moral Hazard • Public Finance • stability
• ISBN-10: 1-137-44156-9 / 1137441569
• ISBN-13: 978-1-137-44156-0 / 9781137441560