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Europe Beyond the EuroThe Covid-19 Pandemic, the Green Economy, and Financial Stability

Europe Beyond the Euro: The Covid-19 Pandemic, the Green Economy, and Financial Stability [This chapter looks at two of the major crises facing Europe, the Covid-19 pandemic and climate change, and argues that—in addition to their devastating direct effects—there is potential for devastation on the financial front. The chapter looks at the wide range of macroprudential measures adopted at the onset of the Covid-19 pandemic, and considers whether they would be appropriate also in the longer term as economies focus more on safety. The chapter considers the magnitude of the green transition, and the financial vulnerabilities throughout the process. It argues that the region’s economy would be protected by having a single agency with oversight over all the range of direct, and indirect, financial risks; in Europe that agency would be the European Systemic Risk Board (ESRB). It suggests some enhancements to the ESRB to enable it to take on this role.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Europe Beyond the EuroThe Covid-19 Pandemic, the Green Economy, and Financial Stability

Part of the St Antony's Series Book Series
Enoch, Charles
Europe Beyond the Euro — Sep 25, 2021
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37 pages

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References (11)

Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2021
ISBN
978-3-030-77114-0
Pages
233 –270
DOI
10.1007/978-3-030-77115-7_10
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter looks at two of the major crises facing Europe, the Covid-19 pandemic and climate change, and argues that—in addition to their devastating direct effects—there is potential for devastation on the financial front. The chapter looks at the wide range of macroprudential measures adopted at the onset of the Covid-19 pandemic, and considers whether they would be appropriate also in the longer term as economies focus more on safety. The chapter considers the magnitude of the green transition, and the financial vulnerabilities throughout the process. It argues that the region’s economy would be protected by having a single agency with oversight over all the range of direct, and indirect, financial risks; in Europe that agency would be the European Systemic Risk Board (ESRB). It suggests some enhancements to the ESRB to enable it to take on this role.]

Published: Sep 25, 2021

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