Full Description
The global financial crisis that struck Europe has profoundly affected its political, economic and regulatory landscape. This Research Handbook provides an inter-disciplinary view of State interventions in the banking sector, their control under State aid rules since the financial crisis of 2008 and the progressive emergence of a pan-European regulation of banks in distress.Assessing the policy of bank rescues over the past nine years provides a striking summary of European successes and failures and of the continuing tension between integration and fragmentation forces at play within the EU and its single market. This Research Handbook offers insights from law and economics - on the extent to which the EU/EEA State aid regime is able to address adequately the concerns of financial regulation without losing sight of its primary purpose. The contributors include academics, specialists in financial regulation, lawyers, economists and regulators, who have all followed or been directly involved in cases relating to the financial crisis.
The Research Handbook on State Aid in the Banking Sector will appeal to advanced students and academics in law and economics, particularly those with an interest in financial institutions, governance and banking.
Contributors include: C. Botelho Moniz, G. Bruzzone, M. Cassella, A. Champsaur, F. Coupé, F. de Cecco, J.-S. Duprey, S. Frisch, C. Froitzheim, P. Gouveia e Melo, J. Gray, V. Iftinchi, B. Joosen, I. Kokkoris, F.-C. Laprévote, S. Micossi, L. Nascimento Ferreira, P. Nicolaides, V. Power, C. Quigley, N. Robins, S. Shamsi, P. Solomon, D.S. Tynes
Contents
Contents:
Foreword
François-Charles Laprévote, Cleary Gottlieb Steen and Hamilton (CGSH)
Part I
1. The special nature of banks and its challenges for competition policy
Ioannis Kokkoris
2. Competition, stability and moral hazard: the tension between financial regulation and State aid control
Joanna Gray and Francesco de Cecco
3. State aid and the financial sector: the evolution of the legal framework of State aid law
Violeta Iftinchi
PART II
4. State aid to banking: application of the market economy investor principle
Phedon Nicolaides
5. The States' toolkit for rescuing banks in difficulty
François-Charles Laprévote and Florine Coupé
6. Compensatory measures in the banking sector
Sahar Shamsi, Pantelis Solomon and Nicole Robins
7. Preserving cross-border banking in the face of the crisis: State aid policy under the financial trilemma
François-Charles Laprévote and Sven Frisch
PART III
8. Crisis aid to banks in Germany
Sven Frisch
9. The United Kingdom
Conor Quigley
10. Ireland
Vincent J.G. Power
11. State aid to banks in France
Claire Froitzheim
12. State aid to banks in Belgium
Jean-Sébastien Duprey
13. State intervention in the banking sector of The Netherlands
Bart P.M. Joosen
14. Southern Program Countries - Cyprus, Portugal, Spain
Carlos Botelho Moniz, Pedro de Gouveia e Melo and Luís do Nascimento Ferreira
15. Iceland
Dora Sif Tynes
Part IV
16. The new regulatory framework for bank resolution
Ginevra Bruzzone, Miriam Cassella and Stefano Micossi
17. Hand in hand or parallel paths? Reflections on the future coexistence of State aid control and bank resolution in the EU
François-Charles Laprévote and Amélie Champsaur
Index
