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From Saviour to Guarantor

EU Member States’ Economic Intervention During the Financial Crisis
ISBN:
9781137441553
Auflage:
1st ed. 2015
Verlag:
Palgrave Macmillan, Palgrave Macmillan UK
Land des Verlags:
Vereinigtes Königreich
Erscheinungsdatum:
25.08.2015
Reihe:
Roma Tre Business and Finance Collection
Format:
Hardcover
Seitenanzahl:
159
Ladenpreis
109,99EUR (inkl. MwSt. zzgl. Versand)
Lieferung in 3-4 Werktagen Versandkostenfreie Lieferung innerhalb Österreichs bis 31. Jänner 2025
State guarantees commonly function as financial panacea, allowing states to consolidate banking systems and create intergovernmental funds. Rules surrounding state guarantees were relaxed during the 2007-2008 financial crisis, allowing states to use them for financing small and medium-sized enterprises (SMEs) and workers' severance payments. Despite many multi-level interventions in many areas after the financial crisis, from international treaties to EU regulations, no specific regulation has been put in place to control state guarantees. This book addresses the subject of state guarantees in the Eurozone, and questions the stability of the instruments implemented so far by states and by the European Union. Using a methodology combining law and finance, it examines the tools adopted by European institutions and Member States in the EU's evolving institutional context, in order to evaluate the effectiveness of the tools themselves as well as of the new European institutional framework. It also addresses the unconventional measures adopted by the European Central Bank, its role as safeguard for European state guarantees and its interaction with the European Union and national courts. In From Saviour to Guarantor the authors suggest that the absence of specific regulatory interventions and the variety and vagueness of existing rules has resulted in state guarantees further destabilising public international finance.
Biografische Anmerkung

Fabio Bassan is Professor of International Economic Law and European Law at the Department of Business Studies, 'Roma Tre' University, Italy. He is Founding Director of the Sovereign Wealth Funds Law Centre, and his areas of interest include international law, European law, sovereign wealth funds, regulation of financial markets, corporate governance, corporate finance, law & economics, and the political economy of regulation.

Carlo Mottura is Professor of Financial Mathematics, Financial Valuation and Risk Management at the Department of Business Studies at 'Roma Tre' University, Italy. His research interests include the control of risks, financial valuation under uncertainty, financial restructuring, and enterprise evaluation. He has also lead research projects funded by the Consiglio Nazionale delle Ricerche (CNR).