Europe after the crisis: Less or more role for nation states in money and finance?

Oxford Review of Economic Policy

Volumn 27, Issue 4, 2011, Pages 608-619

  Sapir, André ^a  

^a UNIVERSITÉ LIBRE DE BRUXELLES   (Belgium)

Author keywords

Economic and monetary union (EMU); Euro; European integration; Financial markets

Indexed keywords

AUTONOMY; CAPITAL FLOW; CAPITAL MARKET; EUROPEAN MONETARY UNION; EXCHANGE RATE; FINANCIAL CRISIS; FINANCIAL MARKET; LIBERALIZATION; NATION STATE; SOVEREIGNTY;

EUROPE;

EID: 84857663476     PISSN: 0266903X     EISSN: 14602121     Source Type: Journal    
DOI: 10.1093/oxrep/grr027     Document Type: Article

References (26)

1. Allsopp, C. J., and Vines, D. (2010), 'Fiscal Policy, Intercountry Adjustment and the Real Exchange Rate within Europe', in M. Buti, S. Deroose, V. Gaspar, and J. Nogueira Martins (eds), The Euro: The First Decade, Cambridge, Cambridge University Press.
2. Barber, T. (2009), 'Economic Decline Saps European Union Optimism', Financial Times, 29 December.
3. De Grauwe, P. (2011), 'The Governance of a Fragile Eurozone', CEPS Working Document No. 346.
4. Delors, J. (1989), Report on Economic and Monetary Union in the European Community, Committee for the Study of Economic and Monetary Union, Luxembourg.
5. Dewatripont, M., Nguyen, G., Praet, P., and Sapir, A. (2010), 'The Role of State Aid Control in Improving Bank Resolution in Europe', Bruegel Policy Contribution No. 2010/04, May.
6. European Commission (2006), 'Adjustment Dynamics in the Euro Area: Experiences and Challenges', European Economy.
7. European Commission (2008), 'EMU@10: Successes and Challenges after Ten Years of Economic and Monetary Union', European Economy.
8. ESRB (2011a), 'Introductory Statement to the Press Conference after the Second Regular Meeting by Jean-Claude Trichet, Chair of the ESRB, Mervyn King, Vice Chair of the ESRB and Andrea Enria, Vice Chair of the ESRB', European Systemic Risk Board, Frankfurt am Main, 22 June.
9. ESRB (2011b), 'Press Release after the Third Regular Meeting', European Systemic Risk Board, Frankfurt am Main, 21 September.
10. Fleming, M. J. (1962), 'Domestic Financial Policies under Fixed and Floating Exchange Rates', IMF Staff Papers 9, 369-79. Reprinted in Richard N. Cooper (ed.) (1969), International Finance, New York, Penguin Books.
11. Goodhart, C. A. E. (2004), 'Some New Directions for Financial Stability?', Per Jacobsson Lecture.
12. Goodhart, C. A. E. Schoenmaker, D. (2006), 'Burden Sharing in a Banking Crisis in Europe', Economic Review.
13. Issing, O. (2006), 'The Euro: A Currency without a State', BIS Review, 23/2006, Basel, Bank for International Settlement.
14. Mayes, D. G., Nieto, M. J., and Wall, L. (2008), 'Multiple Safety Net Regulators and Agency Problems in the EU: Is Prompt Corrective Action Partly the Solution?', Documentos de Trabajo 0819, Madrid, Banco de Espana.
15. Mundell, R. (1963), 'Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates', Canadian Journal of Economic and Political Science, 29(4), 475-85. Reprinted in R. A. Mundell (1968), International Economics, Macmillan, New York.
16. Nieto, M. J., and Schinasi, G. (2007), 'EU Framework for Safeguarding Financial Stability: Towards an Analytical Benchmark for Assessing its Effectiveness', IMF Working Paper WP/07/260, Washington, DC, IMF.
17. Obstfeld, M. (1997), 'Europe's Gamble', Brookings Papers on Economic Activity, 2, 241-300.
18. Padoa-Schioppa, T., Emerson, M., King, M., Milleron, J.-C., Paelinck, J. H. P., Papademos, L. D., Pastor, A., and Scharpf, F. W. (1987), Efficiency, Stability and Equity: A Strategy for the Evolution of the Economic System of the European Community, Oxford, Oxford University Press.
19. Pisani-Ferry, J., and Sapir, A. (2010), 'Banking Crisis Management in the EU: An Early Assessment', Economic Policy, 62, April, 343-73.
20. Prati, A., and Schinasi, G. G. (1998), 'Ensuring Financial Stability in the Euro Area', Finance and Development, December.
21. Prati, A., and Schinasi, G. G. (1999), Financial Stability in European Economic and Monetary Union, Princeton Studies in International Finance No. 86, August.
22. Schinasi, G. G., and Teixeira, P. G. (2006), 'The Lender of Last Resort in the European Single Financial Market', ch. 23 in Caprio, Jr G., D. D. Evanoff, and G. G. Kaufman (eds), Cross-Border Banking: Regulatory Challenges, World Scientific Studies in International Economics. New Jersey.
23. Schoenmaker, D., and Oosterloo, S. (2007), 'Cross-border Issues in European Financial Supervision', in D. G. Mayes, and G. Wood (eds), The Structure of Financial Regulation, London, Routledge.
24. Turner, A. (2009), 'Speech at the Turner Review press conference', 18 March, London, Financial Services Authority.
25. Véron, N. (2007), 'Is Europe Ready for a Major Banking Crisis?', Bruegel Policy Brief No. 2007/03, August.
26. Wolf, M. (2010), 'The Greek Tragedy Deserves a Global Audience', Financial Times, 20 January.