Banking and Fiscal Unions in the EU: What is More Relevant?

The article deals with financial system structures in the eurozone member states, linkages between banking sectors and fiscal solvency of states and EU initiatives towards improving frameworks to prevent and if necessary to deal with crises in the future. The global economic and financial crisis has...

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Autor principal:	A. N. Tsibulina
Formato:	article
Lenguaje:	EN RU
Publicado:	MGIMO University Press 2014
Materias:	european union economic and monetary union euro area banking union fiscal union european integration International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/d2cd9a921f4e4440aaef83c7ebecf2b9
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spelling	oai:doaj.org-article:d2cd9a921f4e4440aaef83c7ebecf2b92021-11-23T14:50:57ZBanking and Fiscal Unions in the EU: What is More Relevant?2071-81602541-909910.24833/2071-8160-2014-4-37-155-161https://doaj.org/article/d2cd9a921f4e4440aaef83c7ebecf2b92014-08-01T00:00:00Zhttps://www.vestnik.mgimo.ru/jour/article/view/172https://doaj.org/toc/2071-8160https://doaj.org/toc/2541-9099The article deals with financial system structures in the eurozone member states, linkages between banking sectors and fiscal solvency of states and EU initiatives towards improving frameworks to prevent and if necessary to deal with crises in the future. The global economic and financial crisis has revealed a close interrelation between banks problems and sovereigns in the EU. The instruments which were used by national governments in order to save systemically important banks forced the EU to revise approaches to bank supervision and establish new mechanisms for banks' restructuring. At the same time sovereign debt crises in a number of member-states, on the one hand, showed lack of an effective EU-wide system of control over a fiscal discipline and, on the other hand raised questions about lack of any system of fiscal transfers to countries hit by a negative shock. The New Banking and Fiscal unions have been designed to withshand those challenges. The author analyses problems which might be solved with the help of the new instruments established within theabove mentioned unions. At the same time far from all initiatives aimed at achieving greater fiscal consolidation might turn out to be effective when dealing with systemic problems in times of a crisis.A. N. TsibulinaMGIMO University Pressarticleeuropean unioneconomic and monetary unioneuro areabanking unionfiscal unioneuropean integrationInternational relationsJZ2-6530ENRUVestnik MGIMO-Universiteta, Vol 0, Iss 4(37), Pp 155-161 (2014)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	european union economic and monetary union euro area banking union fiscal union european integration International relations JZ2-6530
spellingShingle	european union economic and monetary union euro area banking union fiscal union european integration International relations JZ2-6530 A. N. Tsibulina Banking and Fiscal Unions in the EU: What is More Relevant?
description	The article deals with financial system structures in the eurozone member states, linkages between banking sectors and fiscal solvency of states and EU initiatives towards improving frameworks to prevent and if necessary to deal with crises in the future. The global economic and financial crisis has revealed a close interrelation between banks problems and sovereigns in the EU. The instruments which were used by national governments in order to save systemically important banks forced the EU to revise approaches to bank supervision and establish new mechanisms for banks' restructuring. At the same time sovereign debt crises in a number of member-states, on the one hand, showed lack of an effective EU-wide system of control over a fiscal discipline and, on the other hand raised questions about lack of any system of fiscal transfers to countries hit by a negative shock. The New Banking and Fiscal unions have been designed to withshand those challenges. The author analyses problems which might be solved with the help of the new instruments established within theabove mentioned unions. At the same time far from all initiatives aimed at achieving greater fiscal consolidation might turn out to be effective when dealing with systemic problems in times of a crisis.
format	article
author	A. N. Tsibulina
author_facet	A. N. Tsibulina
author_sort	A. N. Tsibulina
title	Banking and Fiscal Unions in the EU: What is More Relevant?
title_short	Banking and Fiscal Unions in the EU: What is More Relevant?
title_full	Banking and Fiscal Unions in the EU: What is More Relevant?
title_fullStr	Banking and Fiscal Unions in the EU: What is More Relevant?
title_full_unstemmed	Banking and Fiscal Unions in the EU: What is More Relevant?
title_sort	banking and fiscal unions in the eu: what is more relevant?
publisher	MGIMO University Press
publishDate	2014
url	https://doaj.org/article/d2cd9a921f4e4440aaef83c7ebecf2b9
work_keys_str_mv	AT antsibulina bankingandfiscalunionsintheeuwhatismorerelevant
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Banking and Fiscal Unions in the EU: What is More Relevant?

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