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- Title
Tőkepiaci unió vagy szabadságharc?
- Authors
Csaba, László
- Abstract
EU crisis management yielded a series of supranational regulations and procedures known as the Fiscal and Banking Union, effective from 2014. These already cover far more money that the pluri-annual financial framework. Furthermore, financial institutions of systemic relevance have come under a joint supervisory mechanism. Already the current/outgoing Commission has proposed that FBU be augmented by a capital-market union (CMU) before its mandate expires in November 2019. Such innovations apply to members of the Euro-zone alone. Those abstaining or excluded from them - as are three Visegrád countries and two Scandinavian - are left alone in their fight to protect national jurisdiction and room to choose their policy options. They are simultaneously giving up the buffer of existing and emerging new EMU arrangements. The CMU will mobilize considerable new resources for growth - that also is going to be missed by the non-joiners.
- Publication
Economic Review / Kozgazdasagi Szemle, 2018, Vol 65, p484
- ISSN
0023-4346
- Publication type
Article
- DOI
10.18414/KSZ.2018.5.484