A European Union Sustainable Banking Network

This policy brief suggests a proposal for the promotion of a sustainable banking system in the EU. This sustainable banking network, that we suggest to call EU Sustainable Banking Network (EU SBN), aims to coordinate the actions of private and public banks towards sustainable banking principles through a system based on three pillars: green certification…

Policies for Rebalancing China’s Economy and Their Global Impact

This policy brief draws on FESSUD Working Paper No. 144, “Assessing China’s Economic and Financial Prospects within the Context of Global Imbalances”. It highlights how the country could rebalance its economy over the next 10 years and thereby helps to improve global economic and financial imbalances. The present policy brief begins by outlining a baseline…

Banking risk in France, Germany and Spain

In this analysis we review financial systems on three different levels. First, we look at overall financial stress and stress in the sovereign bond market. Then, we look closer at the banking sectors examining different risk factors. Finally, we analyse supply and demand of credit to the nonfinancial private sector. We do so for three…

Making the European Union a viable construction

The recent result of the UK referendum on exiting the European Union (EU) is the more visible sign of the shortcomings and fragmentation of the Union’s political, institutional and policy framework. The present policy brief, which was written months before the UK referendum and draws from earlier works (Tonveronachi 2014, 2015, 2016), proposes to revise…

EU Financial integration and the role of the European Central Bank

The economic and financial crisis that still affects most European countries has raised growing concerns about the endurance of the integration process of the European Union (EU), and especially of the Euro Area (EA). According to the prevailing interpretation, the European crisis was triggered by the Lehman Brothers’ collapse and the resulting world-wide financial turmoil,…

Structures of ownership in the financial sector

The analysis of the structure of ownership in the financial sector in the old and new EU Member States is particularly important for the proper understanding of the scale and scope of the process of financialisation in the EU countries. The importance of the structure of ownership in the financial sector of the EU countries…

The processes of financialisation

Financialisation involves the growth of the financial sector in the economic, the social and the political spheres. The processes of financialisation have major consequences for economic performance, social well-being and the environment. This policy brief focuses on the forms which the processes of financialisation have taken over the past three and a half decades in…