The European System of Financial Supervision from an EEA Perspective – A Complex Compromise

The European System of Financial Supervision from an EEA Perspective – A Complex Compromise

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The European System of Financial Supervision from an EEA Perspective – A Complex Compromise

The global financial crisis in 2007 and 2008 revealed many flaws in European financial markets – including the financial supervisory system. In accordance with the recommendations made in the de Larosière Report, the Commission proposed to set up a European System of Financial Supervision (ESFS). On 24 November 2010, the new system was established.

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