The operationalisation in late 2014 of European Regulation 1024/2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions and establishing a Single Supervisory Mechanism (SSMR) has profoundly changed the European...

The European financial and euro area debt crisis has exposed fundamental flaws of the system of economic governance in the euro area and namely of the legal framework introduced into primary Union law by the 1992/1993 Treaty on European Union governing economic policy coordination. This crisis...