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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 |
URL | https://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. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
WP_12_09_euro_area_s(89KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | ![]() 浏览 | ||
WP_12_09_euro_area_s(484KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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