Papers by Phoebus Athanassiou
Oxford University Press eBooks, Mar 1, 2018
The provisions on Monetary Union (MU), of the Treaty on the functioning of the European Union (TF... more The provisions on Monetary Union (MU), of the Treaty on the functioning of the European Union (TFEU or the Treaty), as well as the Statute of the European System of Central Banks and of the European Central Bank (the Statute), are important in their own right, and are amongst those from which any student of the European Union (EU) can learn a great deal with regard to the EU.
Social Science Research Network, Oct 30, 2017
Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch ge... more Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may be saved and copied for your personal and scholarly purposes. You are not to copy documents for public or commercial purposes, to exhibit the documents publicly, to make them publicly available on the internet, or to distribute or otherwise use the documents in public. If the documents have been made available under an Open Content Licence (especially Creative Commons Licences), you may exercise further usage rights as specified in the indicated licence.
Routledge eBooks, Jul 2, 2021
Routledge eBooks, Jul 2, 2021
European Company and Financial Law Review, 2021
Often touted as the opposite of money and banks, crypto-assets and their ecosystem may gradually ... more Often touted as the opposite of money and banks, crypto-assets and their ecosystem may gradually be coming to terms with the idea that their success will also depend on their issuers’ readiness to adhere to conventional financial practices, on their acceptance of the preponderant role that banks have to play in the financial system, and on their ability to access basic banking services. Some within the banking community are starting to reciprocate the attention, by positioning themselves so as to serve the needs of crypto assets and their ecosystem, as a promising source of revenue at a challenging time for bank profitability. No less important for the emergence of crypto-friendly banks than the risk appetite of existing or new banking service providers is the regulators’, supervisors’ and policy makers’ stance vis-à-vis crypto-friendly banking. This paper explores the relationship of dependency between crypto and banks, how some banks around the world are facing up to the challenge...
Oxford University Press eBooks, May 21, 2020
Payment systems matter: they provide the basis for the processing and execution of the multifario... more Payment systems matter: they provide the basis for the processing and execution of the multifarious value-transfer transactions, wholesale and retail alike, that are crucial for the operation of modern, free-market economies. Less obvious–but no less pivotal–is the role that payment systems play for monetary policy and its transmission, not least in the sui generis context of the Economic and Monetary Union (EMU). The launch, in January 1999, of the Trans-European Automated Real-time Gross settlement Express Transfer (TARGET) system, the precursor of TARGET2, simultaneously with the launch of the euro, testifies to the centrality of payment systems for the implementation of the single monetary policy, and for the consolidation of the euro area money market.
Journal of Economic Perspectives, 2012
The origin and propagation of the European sovereign debt crisis can be attributed to the flawed ... more The origin and propagation of the European sovereign debt crisis can be attributed to the flawed original design of the euro. In particular, there was an incomplete understanding of the fragility of a monetary union under crisis conditions, especially in the absence of banking union and other European-level buffer mechanisms. Moreover, the inherent messiness involved in proposing and implementing incremental multicountry crisis management responses on the fly has been an important destabilizing factor throughout the crisis. After diagnosing the situation, we consider reforms that might improve the resilience of the euro area to future fiscal shocks.
Research Handbook on EU Economic Law, 2019
The European Sovereign Debt Crisis, 2021
The European Sovereign Debt Crisis, 2021
The European Sovereign Debt Crisis, 2021
This book is published at a time of unprecedented crisis. A few words on its origins, their link ... more This book is published at a time of unprecedented crisis. A few words on its origins, their link to the activities of alternative investment funds and the recent surge to regulate them are deemed appropriate, by way of introduction. The progressive deregulation of the European and US banking and fi nancial systems, in conjunction with the galloping pace of fi nancial globalization, have been amongst the salient characteristics of the last two decades of the history of fi nance. One of the most enduring legacies of the deregulation era, which was to see a fl urry of promising fi nancial innovation, has been the greater susceptibility of the European and US economies to asset and market bubbles, corporate scandals and failures and, more recently, to generalized fi nancial sector and, in some cases, sovereign crises. As for globalization, one of its most lasting legacies has been the increasing vulnerability of national economies to fi nancial meltdowns in the face of large, ‘imported’...
Law and Financial Markets Review, 2010
This article examines how financial rules differ from rules drawn from other branches of the law ... more This article examines how financial rules differ from rules drawn from other branches of the law and proposes ways in which to feed an understanding of their specificities into the regulatory process so as to improve them and help overcome the weaknesses brought to light by the financial crisis. Questioning the widespread trust in fallible, man-made rules, in an area where the benefits of trial and error are restricted to the experiments of the last 20 years, simplifying our financial law rulebook and better aligning its contents with some of the fundamental moral choices made in other areas of the law are necessary steps in order to lay the foundations for a safer financial regulatory environment.
European Business Law Review
Research Papers in Economics, 2017
Oxford Principles Of European Union Law: The European Union Legal Order: Volume I, 2018
The provisions on Monetary Union (MU), of the Treaty on the functioning of the European Union (TF... more The provisions on Monetary Union (MU), of the Treaty on the functioning of the European Union (TFEU or the Treaty), as well as the Statute of the European System of Central Banks and of the European Central Bank (the Statute), are important in their own right, and are amongst those from which any student of the European Union (EU) can learn a great deal with regard to the EU.
Preface. Acknowledgements. About the Author. List of Abbreviations and Acronyms. Table of Legal A... more Preface. Acknowledgements. About the Author. List of Abbreviations and Acronyms. Table of Legal Acts. Table of Cases. Introduction. Part One: Contemporary Hedge Fund Industry Profile and Conceptual Underpinnings of Hedge Fund Regulation. 1. Hedge Funds: Definition, Features, Evolution and Future Prospects. 2. The Case for Hedge Fund Regulation. Part 2: Hedge Funds under Community and Domestic Law. 3. Hedge Funds and Community Law. 4. Hedge Fund Regulation in Selected European Jurisdictions. 5. European Hedge Fund Initiatives and Regulatory Proposals. Part 3: Europe's Onshore Hedge Fund Industry: A Normative Proposal. 6. Harmonized Hedge Fund Regulation in the European Union. 7. Hedge Fund Regulation and Europe's Supervisory and Financial Stability Arrangements. 8. Endnote: What Objections to Hedge Fund Regulation? List of References. Index.
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Papers by Phoebus Athanassiou