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Europe Beyond the EuroThe European Systemic Risk Board: Financial Stability for the Entire Membership

Europe Beyond the Euro: The European Systemic Risk Board: Financial Stability for the Entire... [This chapter analyses the role of the ESRB, the agency tasked with maintaining financial stability in the EU, and hence central in the face of not only financial crises but also other crises—as other crises would have financial repercussions that would amplify the effects of the initial crises and cause contagion well beyond their initial source. The chapter welcomes a number of the ESRB’s characteristics and achievements: its inclusivity across the EU membership and beyond, its linkage to the wider community through its academic scientific committee, its choice over the past decade as to which subjects to explore, and its methodology of warnings and recommendations. On the other side are a number of issues that it would be worthwhile to address: its relationship with the ECB, its limited involvement in international fora, and its present reliance exclusively on soft power, including on pressing countries to grant reciprocity when called for. The chapter analysis the ESRB’s work over its first decade, identifying its range of activities and emerging trends.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Europe Beyond the EuroThe European Systemic Risk Board: Financial Stability for the Entire Membership

Part of the St Antony's Series Book Series
Enoch, Charles
Europe Beyond the Euro — Sep 25, 2021
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References (17)

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
175 –231
DOI
10.1007/978-3-030-77115-7_9
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter analyses the role of the ESRB, the agency tasked with maintaining financial stability in the EU, and hence central in the face of not only financial crises but also other crises—as other crises would have financial repercussions that would amplify the effects of the initial crises and cause contagion well beyond their initial source. The chapter welcomes a number of the ESRB’s characteristics and achievements: its inclusivity across the EU membership and beyond, its linkage to the wider community through its academic scientific committee, its choice over the past decade as to which subjects to explore, and its methodology of warnings and recommendations. On the other side are a number of issues that it would be worthwhile to address: its relationship with the ECB, its limited involvement in international fora, and its present reliance exclusively on soft power, including on pressing countries to grant reciprocity when called for. The chapter analysis the ESRB’s work over its first decade, identifying its range of activities and emerging trends.]

Published: Sep 25, 2021

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