The Role of Financial Stability in EU Law and Policy

The Role of Financial Stability in EU Law and Policy offers a comprehensive examination of the concept and normative underpinnings of financial stability, with a specific focus on the European Economic and Monetary Union (EMU) and the European Banking Union (EBU). Since the outbreak of the financial crisis in 2008, EU institutions and Member States have engaged in a major effort to repair the architecture of the EMU. According to the author, financial stability has become a foundational objective which is based on a set of new supranational normative instruments in EU law and policy. Arguing that financial stability is a foundational objective in EU law and policy, this ground-breaking book provides an in-depth understanding of the newly developed framework to attain supranational financial stability. What’s in this book: This study, in its analysis of the legal implications of these new instruments, examines topics and issues such as: the concept and normative instruments of financial stability at European level; the renewed economic governance in Europe; the financial assistance mechanisms developed in Europe; the new regulatory environment for banks at European level; the Single Supervisory Mechanism and the role of the ECB therein; the new framework for banking resolution, with specific focus on the Single Resolution Mechanism. The author shows in detail how an appropriate level of supranational regulation, supervision, burden-sharing measures and rescue measures strengthens financial stability. How this will help you: As an exhaustive, thorough and interdisciplinary analysis, this book helps to understand the nature and role of financial stability in the context of the European financial crisis. As an assessment of the complex new rules that govern the EMU and EBU, this book enables readers to comprehend the legal reasoning and normative analysis behind the most recent waves of financial reforms in Europe. Thereby, the book appeals to officials in EU institutions and agencies as well as lawyers and academics in EU law and in banking/financial law to gain a clear insight into the normative instruments intended to attain supranational financial stability in EU law and policy.

Foreword List of Abbreviations Acknowledgements CHAPTER 1 General Introduction CHAPTER 2 Financial Stability in Context CHAPTER 3 Financial Stability as a New Supranational Foundational Objective in EU Law and Policy CHAPTER 4 European Economic Governance CHAPTER 5 Stability Mechanisms in Europe CHAPTER 6 EU Banking Regulation CHAPTER 7 EU Banking Supervisory Law CHAPTER 8 EU Banking Recovery and Resolution CHAPTER 9 General Conclusions Selected Bibliography Table of Cases Index