The Regulation on the Single Supervisory Mechanism mandates the European Central Bank to exercise prudential supervision on the most significant banks located in the Euro area, whether directly by the Bank's own services, or indirectly by the national prudential supervisors but under the general...

The paper builds a simplified model describing the economy of a currency union with decentralised national fiscal policy, where the main features characterising the policy-making are similar to those in EMU. National governments choose the size of deficit taking into account the two main rules...

A perceived need to increase nominal wage flexibility as a substitute for domestic monetary policy and a tendency to less wage moderation are likely to promote bargaining coordination and social pacts in the EMU. But such coordination is not likely to be sustainable in the long run, as it...

The two contributions in this legal working paper discuss the various aspects of composite administrative procedures in the context of both Single Supervisory Mechanism (SSM) and Single Resolution Mechanism (SRM) decision-making procedures. It addresses the definition of such procedures, their...

While the first two pillars of the Banking Union, a Single Supervisory Mechanism (SSM) and a European Resolution Mechanism (SRM) have been realized rather smoothly, the realization of the third pillar, a European Deposit Insurance System (EDIS), proves a bigger challenge. Already in November...