{"id":4859,"date":"2012-12-12T21:12:07","date_gmt":"2012-12-12T19:12:07","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=4859"},"modified":"2012-12-16T21:58:59","modified_gmt":"2012-12-16T19:58:59","slug":"monetary-policy-and-banking-supervision-coordination-instead-of-separation","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/monetary-policy-and-banking-supervision-coordination-instead-of-separation\/","title":{"rendered":"Monetary Policy and Banking Supervision: Coordination instead of separation"},"content":{"rendered":"<p><a href=\"http:\/\/www.ceps.eu\/author\/thorsten-beck\" target=\"_blank\">Beck, Thorsten<\/a>, <a href=\"http:\/\/www.ceps.eu\/author\/daniel-gros\">Gros, Daniel<\/a>.<\/p>\n<p>Following the June 2012 European Council decision to place the \u2018Single Supervisory Mechanism\u2019 (SSM) within the European Central Bank, the general presumption in the policy discussions has been that there should be \u2018Chinese walls\u2019 between the supervisory and monetary policy arms of the ECB. The current legislative proposal, in fact, is explicit on this account. On the contrary, however, this paper finds that there is no need to impose a strict separation between these two functions. The authors argue, in fact, that a strict separation of supervision and monetary policy is not even desirable during a financial crisis when the systemic stability of the financial system represents the biggest threat to a monetary policy that aims at price stability. In their view, the key problem hampering the ECB today is that it lacks detailed information on the state of health of the banking system, which is often highly confidential. Chinese walls would not solve this problem.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>CEPS<\/p>\n<p><a href=\"http:\/\/www.ceps.eu\/book\/monetary-policy-and-banking-supervision-coordination-instead-separation\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beck, Thorsten, Gros, Daniel. Following the June 2012 European Council decision to place the \u2018Single Supervisory Mechanism\u2019 (SSM) within the European Central Bank, the general presumption in the policy discussions has been that there should be \u2018Chinese walls\u2019 between the supervisory and monetary policy arms of the ECB. The current legislative proposal, in fact, is [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,32,4],"tags":[26,25],"class_list":["post-4859","post","type-post","status-publish","format-standard","hentry","category-19","category-32","category-proposals","tag-26","tag-25"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=4859"}],"version-history":[{"count":3,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4859\/revisions"}],"predecessor-version":[{"id":4891,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/4859\/revisions\/4891"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=4859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=4859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=4859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}