Abstract
To the extent that there is a European bureaucracy the question is whether there is a need to move further to coherent governance or stay within the present, fragmented system. Coherent governance requires a notion of common political and economic interests whose objective foundation already exists but has not found yet a concrete, material form. Conditions for financial stability exceed the national boundaries and cannot be treated properly within them. Even small steps cannot be taken towards more stable financial sector by the member-states themselves and solely at the national level. For example, national banks that impose willingly upon themselves a 100 % reserve requirement will have to face the competition from their foreign counterparts.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2014 Springer International Publishing Switzerland
About this chapter
Cite this chapter
Tsionas, E.G. (2014). Conditions for Genuine Financial and Monetary Stability. In: The Euro and International Financial Stability. Financial and Monetary Policy Studies, vol 37. Springer, Cham. https://doi.org/10.1007/978-3-319-01171-4_23
Download citation
DOI: https://doi.org/10.1007/978-3-319-01171-4_23
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-01170-7
Online ISBN: 978-3-319-01171-4
eBook Packages: Business and EconomicsEconomics and Finance (R0)