Munich Personal RePEc Archive

Financial Regulation and EMU

Rossi, Giovanni (1997): Financial Regulation and EMU. Published in: European Economic Integration Review , Vol. 15, (15 January 1997): pp. 31-39.

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Abstract

Most of the comments of the Maastricht Treaty deal with macroeconomic aspects. To be less often cited, the regulatory and prudential aspects are nonetheless essential. The monetary union will indeed introduce an interdependence of the payment systems, which will result in a globalization of the risk and the appearance of external effects. In this context, the different national regulations take on a public good character at European level, with important consequences for the effectiveness of coordination mechanisms. These are the aspects that the article discusses in detail.

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