Pregled bibliografske jedinice broj: 1175120
THE BANKING UNION AS AN INSTRUMENT FOR PREVENTING CRONY CAPITALISM IN THE BANKING SECTOR
THE BANKING UNION AS AN INSTRUMENT FOR PREVENTING CRONY CAPITALISM IN THE BANKING SECTOR // EU Financial Regulation and Markets-Beyond Fragmentation and Differentiation / Bajkić, Ivana ; Božina Beroš, Marta (ur.).
Zagreb: Pravni fakultet Sveučilišta u Zagrebu, 2021. str. 92-116 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
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Naslov
THE BANKING UNION AS AN INSTRUMENT FOR PREVENTING
CRONY CAPITALISM IN THE BANKING SECTOR
Autori
Pilipović, Ozren
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni
Izvornik
EU Financial Regulation and Markets-Beyond Fragmentation and Differentiation
/ Bajkić, Ivana ; Božina Beroš, Marta - Zagreb : Pravni fakultet Sveučilišta u Zagrebu, 2021, 92-116
ISBN
978-953-270-140-1
Skup
International Scientific Conference EU Financial Regulation and Markets: Beyond Fragmentation and Differentiation
Mjesto i datum
Zagreb, Hrvatska, 26.11.2020. - 27.11.2020
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
Banking Union, bank failures, rules for managing bank failures, crony capitalism
Sažetak
The Banking Union is viewed as one of the final chapters in total harmonization of the European Single Market along with the tax harmonization incentives. The Financial Crisis of 2007 showed that a single supervisory mechanism was needed in order to keep an eye on the banks in Euro area and thus the Banking Union was born. While states jealously guard their tax sovereignty they are more than willing to give up their monetary sovereignty when they join the Euro area. The Banking Union today is made of the Single Supervisory Mechanism (SSM) and the Single Resolution Mechanism (SRM). The third pillar in the full Banking Union is going to be the European deposit insurance scheme (EDIS). The aim of this paper is to show that the Banking Union rules for managing failing banks will significantly prevent a possibility of crony capitalism in banking sectors in CEE EU member states. CEE countries have some historical experience with bank failures which can be dated to the period of transition during the 1990s. Some of them also have experience with crony capitalism. Many of them had combined experience of crony capitalism and bank failures. This was possible because of two reasons: in the 1990s they were not members of the EU and later there were no rules that dealt with bank failures at a European level and each state could intervene as it wanted. Today these states can intervene only according to the Banking Union rules which will hopefully reduce crony capitalism in their banking sectors.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija, Pravo
