As time elapses since the introduction of the Euro, it is legitimate to start asking what impact the new currency and the single monetary policy have had on European integration. This book provides the most comprehensive review of financial integration in the euro area. The volume includes an introduction to the institutional features of the euro area and the literature on financial integration. It examines developments in the financial structures at large and moves forward to focus on specific areas pertaining to financial intermediaries, the bond and equity markets, and market-based debt finance. It is particularly suited to researchers and students of developments in the euro area, central banking, money and banking, as well as international relations and international business more generally. While the introductory chapters will help in bringing undergraduates on board, the later chapters will particularly benefit the early graduate student as well as the professional observer.
This volume considers that, as time elapses since the introduction of the Euro, it is legitimate to start asking what impact the new currency and the single monetary policy have had on European integration. This book provides the most comprehensive review of financial integration in the euro area. The volume includes an introduction to the institutional features of the euro area and the literature on financial integration. It examines developments in the financial structures at large and moves forward to focus on specific areas pertaining to financial intermediaries, the bond and equity markets, and market-based debt finance. It is particularly suited to researchers and students of developments in the euro area, central banking, money and banking, as well as international relations and international business more generally. While the introductory chapters will help in bringing undergraduates on board, the later chapters will particularly benefit the early graduate student as well as the professional observer.
As time elapses since the introduction of the Euro, it is legitimate to start asking what impact the new currency and the single monetary policy have had on European integration. This book provides the most comprehensive review of financial integration in the euro area. The volume includes an introduction to the institutional features of the euro area and the literature on financial integration. It examines developments in the financial structures at large and moves forward to focus on specific areas pertaining to financial intermediaries, the bond and equity markets, and market-based debt finance. It is particularly suited to researchers and students of developments in the euro area, central banking, money and banking, as well as international relations and international business more generally. While the introductory chapters will help in bringing undergraduates on board, the later chapters will particularly benefit the early graduate student as well as the professional observer.
The SDN elaborates the case for, and the design of, a banking union for the euro area. It discusses the benefits and costs of a banking union, presents a steady state view of the banking union, elaborates difficult transition issues, and briefly discusses broader EU issues. As such, it assesses current plans and provides advice. It is accompanied by three background technical notes that analyze in depth the various elements of the banking union: a single supervisory framework; a single resolution and common safety net; and urgent issues related to repair of weak banks in Europe.
For the earnest student of Europe, this unique work brings together a basic review of essential segments of intellectual thinking. In this volume, pertinent conceptual relationships, substantial relevant particulars, and an array of specific mechanics are all intertwined and used as a focus to examine the ongoing complex European integration process. By defining important parameterizations, this text develops a paradigm probing the current-day international activities which are rapidly leading to meta-national European supra-nationality. The most basic substantive of the integration process is the collective various peoples of Europe with their individual diversities. The origins of these collective diversities, the defining historical nationhood precedent, is herein examined, revealing the essential elements of individual identities, ethnologies, linguistic collectivities, and other antecedents imputing elements which compose the substance and stuff today coalescing into tomorrow's future harmonized European identity. This book is unique as it traces from many different origins the elements that are merging Europe into one collective future. This book sketches a process of onward integration as a continuation of what has happened in the past. This argument is augmented with many time lines, definition martial, and historical presentation, making it easy for the reader to grasp straightforwardly the wide-ranging substance out of which a single whole is being constructed. As a cognitive dynamic, movements such as the Nordic League, European Union, and EFTA as well as many other entities have been noted-- movements each in their own way, all contributing to an overall integrated Europe. As the more prominent initiative, the European Union with its diverse and constituent parts is carefully presented, as well as its unique decision-making process which is working to focus singular interests into collective benefits. Integration is an inevitable byproduct of continentalization, itself a sub consideration of globalization. The time and perhaps the gestalt of the end result of this activity is not known; however, with a comprehensive overview the motion is clearly identifiable, and the direction unequivocally certain. The Single House of Europe is being built of very different elements. This book defines these elements in terms of a paradigm for understanding the process of integration, the process that is rapidly forming the new Single House of Europe.
This is on a highly topical issue and addresses a key policy issue for Europe—namely, reinforcing EMU institutional architecture along with the Banking Union. Some proposals have emerged in Europe, and it will be important to put out staff views on this issue. In that context, publication as an SDN is appropriate, given the high profile nature and relevance of the topic—much like the Banking Union paper done a few months ago.
Euro map poster showing the main features of the euro area as a geographical and economic entity and providing an overview of its scope and development, both past and future.
From Fragmentation to Financial Integration in Europe is a comprehensive study of the European Union financial system. It provides an overview of the issues central to securing a safer financial system for the European Union and looks at the responses to the global financial crisis, both at the macro level—the pendulum of financial integration and fragmentation—and at the micro level—the institutional reforms that are taking place to address the crisis. The emerging financial sector management infrastructure, including the proposed Single Supervisory Mechanism and other elements of a banking union for the euro area, are also discussed in detail.
Over half a century old and continuing to grow in strength and authority, the European Union consists of 25 member states_with more on the waiting list_and a population of 450 million people. Its influence in foreign and domestic affairs and human rights and law reaches far beyond its earlier fields of trade and politics. From the initial ideas about integration leading to the Treaty of Paris and the creation of the European Coal and Steel Community to the current reflection on the Treaty establishing a Constitution for Europe, The A to Z of the European Union encompasses the most basic elements of the EU and the components that have emerged as a result of them. Through the use of maps, photographs, a chronology, an introductory essay, a bibliography, and hundreds of cross-referenced dictionary entries on topics such as leaders, personalities, institutions, enlargements, member states, internal policies, external relations, basic theories, treaties, and law, this dictionary tells a clear and complete story about the European Union that will assist those with greater interest in understanding it.
