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来源类型Working Paper
规范类型工作论文
The creation of euro area financial safety nets
Michiel Bijlsma; Shahin Vallée
发表日期2012-07-02
出版年2012
语种英语
概述This paper provides an overview of the recent financial stability mechanisms and their various shortcomings and tries to brush the outline of a more comprehensive safety net architecture that would coherently address the banking, sovereign and external imbalances crises against both transitory and more permanent shocks.
摘要

The financial crisis has exposed the need to devise stronger and broader international and regional safety nets in order to deal with economic and financial shocks and allow for countries to adjust.

The euro area has developed several such mechanisms over the last couple of years through a process of trial and error and gradual enhancement and expansion. Their overall architecture remains imperfect and leaves areas of vulnerabilities. This paper provides an overview of the recent financial stability mechanisms and their various shortcomings and tries to brush the outline of a more comprehensive safety net architecture that would coherently address the banking, sovereign and external imbalances crises against both transitory and more permanent shocks. It aims to provide a roadmap for further improvements of the current mechanism and the creation of new devices including a banking resolution mechanism and amore powerfulmechanismto provide financial assistance addressing both the sovereign and external dimensions of the shocks thereby reducing the need for the ECB to fill the current void.

主题European Macroeconomics & Governance ; Finance & Financial Regulation
关键词European governance eurozone governance financial stability
URLhttps://bruegel.org/2012/07/the-creation-of-euro-area-financial-safety-nets/
来源智库Bruegel (Belgium)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/429370
推荐引用方式
GB/T 7714
Michiel Bijlsma,Shahin Vallée. The creation of euro area financial safety nets. 2012.
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