The Impact of the Current Fiscal Crisis in the Euro Area on the Greek Banking System and the Measures Adopted to Safeguard its Stability: An Institutional, Supervisory and Regulatory Perspective

Abstract

The present study examines the impact of the current fiscal crisis in the euro area on the Greek banking system and the measures adopted to preserve its stability. It is divided into 3 Sections:(a) Section 1 contains an overview of the causes of the recent (2007-2009) international financial crisis and the current fiscal crisis in the euro area and their differentiated impact on the Greek banking system.(b) Section 2 deals with the institutional, supervisory and regulatory measures adopted to safeguard the stability of the Greek banking system from 2008 (amidst the recent international financial crisis) until the establishment of the European Banking Union in 2014. (c) Finally, Section 3 briefly overviews the main elements of the current institutional and regulatory framework governing banking stability in the European Union and the impact of its provisions on the Greek banking system.