Risk Sharing in the Euro Area

The book offers a horizontal legal analysis on the problematic of risk sharing, which arises inevitably in an economic and political integration process, such as in the European Union, and even more so in the euro area. The question is how the burden of adverse economic developments is spread across the integration area, in this case the euro area, whether risk is distributed evenly and what risk sharing mechanisms apply. The book looks at the legal basis and the concrete stage of development of such mechanisms in European law, as well as at divergences among national legal orders and practices as a source for risk asymmetries. Individual contributions refer in particular to the areas of banking, capital markets and unemployment insurance. The point of view adopted in the book is important for everyone who wants to develop a robust understanding of the practical functioning of the complex integration process regulated by EU law.

Auteur

Prof. Georgios Psaroudakis has been teaching at the University of Thessaloniki since 2014, working in particular on the fields of corporate, financial and insolvency law. He has significant law-drafting experience, not least in the transposition of Directives (such as the Bank Recovery and Resolution Directive) in Greek law. Georgios is now chairing the Insolvency Administration Committee established under Greek law. Georgios is also advising Greek central bank on issues of bank supervision and resolution law, not least in the context of the Banking Union.