Publication

This publication discusses what the EU's policy answer to the financial crisis should be. The report puts forward three recommendations. It argues that the European Council should mandate the High-Level Expert Group on EU financial supervision to analyze the structure of financial oversight and propose steps leading to a European System of Financial Supervisors. It further recommends that a European Financial Institute be created to lay the groundwork for the establishment of the European System of Financial Supervisors. Thirdly, the report argues that the European System of Financial Supervisors should be given a target date to commence operations.