The policy contribution aims to overcome the unfertile debate that opposes the notions of risk-sharing and risk reduction, by examining the concepts of economic solidarity and responsibility, with a particular focus on the Banking Union and some of its unresolved crisis management issues. The...

Contemporaneous banking theory appear to understand financial institutions as intermediaries, neglecting some facts featuring modern banking: monetary financial institutions issue claims which function as money; they facilitate payments across agents in the economy over time and space; they...

The North Atlantic Financial Crisis of 2007 did suddenly and massively disrupt the activities of financial markets and financial institutions that were organised under a market-based financial architecture at local and international levels. Both corporate and public policies were at the origin...