The Future of the Banking Supervision in Europe
The current financial crisis marked the end of a period characterized by a profit rush and an ascending trend of taking risks. In order to diminish its effects, central banks and governments made a prompt and joint intervention which resulted in urgent measures to re-establish the trust in the inter...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2009-08-01
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| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/402.pdf
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| Summary: | The current financial crisis marked the end of a period characterized
by a profit rush and an ascending trend of taking risks. In order to
diminish its effects, central banks and governments made a prompt and joint
intervention which resulted in urgent measures to re-establish the trust in the
international financial system.
However, the deficiencies in the risk management (associated with other
weaknesses in the functioning of the financial markets) call for a profound
reform of the financial regulatory and supervisory framework. The success of
this process aiming the improvement of the regulatory structure and, especially,
of the components which encountered major dysfunctions, cannot be
conceived without revising the entire supervision architecture at both regional
and international level, so that it can provide the revitalization, consolidation
and effectiveness of the international financial system as a whole. |
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| ISSN: | 1841-8678 1844-0029 |