englischIn response to the European financial crisis, the European Union and its Member States have implemented administrative cooperation mechanisms in the field of European financial supervision to ensure the uniform and coherent application of European supervisory law within the European Union’s [...]

englischAt least since the onset of the economic and financial crisis in 2007, grave deficits of the institutional supervisory structure of the European Union have been revealed. Despite the global interdependence of the financial markets, it was characterized by a material and procedural [...]

englischThe concept of indirect banking supervision by the ECB describes the approach taken within the Single Supervisory Mechanism (SSM) to the surveillance of less significant institutions. Under the ECB’s oversight, day-to-day supervision is primarily carried out at national level. The [...]

englischAfter the outbreak of the financial crisis in the years 2007/2008, OTC credit derivatives came to the centre of attention. Especially the regulation of so-called Sovereign CDS, which are used for the transfer of sovereign credit risks, are deemed problematic. These financial instruments are [...]

englischThe book interprets special German alternative investment structures in the view of the German term “investment fund” of the KAGB, which is equivalent to the term “AIF” of the AIFM directive. At first the fundamental principles, which are necessary for the understanding and the [...]

englischThe payment system TARGET2 processes and settles national and cross-border payments rapidly and finally in central bank money. The so-called TARGET2 balances that occur are critically discussed by economists and have attracted the attention of the general public.

This work reviews the [...]

englischThe dissertation analyses the implementation and application of standardized and identical clauses, as agreed in Art. 12 III ESM-Treaty, so called Collective Action Clauses, in German Federal Sovereign Securities. Germany uses a contractual approach of implementing CACs in its Securities [...]

englischThe academic literature is quite familiar with the concept of “soft law” as such, whereas the missing definition of the term often leads to insecurity regarding handling the legal challenges arising out of operating with soft law. This book deals with soft law as a regulatory instrument in [...]

englischThis proceeding paper involves an appraisal of the compatibility of the European Union rescue measures, introduced during the European sovereign debt crisis, with existing European Union law and, summarised German constitutional law. This enquiry adopts classical legal interpretation [...]

Die rechtsökonomische Dissertation zeigt anhand eines dreistufigen Schemas wie Finanzkrisen eingedämmt und langfristig bewältigt werden können. Hierbei ist die staatliche Übernahme notleidender Vermögenswerte durch „Bad Banks“ entscheidend, um langfristig den Teufelskreis aus Staatsschuldenkrisen [...]