Český finanční a účetní časopis 2012(4):87-101 | DOI: 10.18267/j.cfuc.9

Future of the European Financial Supervision System

Soňa Machová
Ing. Soňa Machová - doktorand v kombinovaném studiu; Katedra světové ekonomiky, Fakulta mezinárodních vztahů, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3, <machova.sona@centrum.cz>.

There are mainly three possible options of the future developments in the financial supervisory framework of the EU: (1) the status quo with the possible partial modifications; (2) to create a specific regime for cross-border financial groups, or (3) creation of the European Supervision System along the lines of the European System of Central Banks. In terms of long-term development of financial markets and supervisory framework needs the third option presents the most suitable solution. However, due to the fact that its practical implementation is limited by a number of key assumptions and conditions, without their prior fulfillment the creation of such a system would be irresponsible decision. As we can see on the example of the euro area, risks associated with potential costs would far outweigh the expected benefits.

Keywords: Financial markets; Supervision; European Union.
JEL classification: F55, G00, G18

Published: December 1, 2012  Show citation

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Machová, S. (2012). Future of the European Financial Supervision System. Czech Financial and Accounting Journal, 2012(4), 87-101. doi: 10.18267/j.cfuc.9
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