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Abstract only
Costas Simitis

the Greek track record on legislation and executive leadership, this would be no small feat. Opti­mistic analysis anticipated that this could be done by February; however, many remained understandably sceptical that such predictions would prove correct. The programme required intensive work and left little scope for inertia or delay. Developments in the Eurozone and continued anxiety in the markets continued to pose a risk to the programme of reform and the time frame laid out for its implementation. The delays and shortcomings that had plagued 161 Greece.indb 161

in The European debt crisis
Abstract only
Mike Buckle and John Thompson

central bank has a degree of independence in its operations, there is the question of its accountability for an important element of providing an efficient financial system. 5.2.5   Independence of the central bank Before 1997 in the UK, the politically controlled Treasury had the ultimate say on the monetary policy

in The UK financial system (fifth edition)
Costas Simitis

‘balanced economic growth’, ‘a competitive social market economy’, ‘social justice’ – while the loftier aims of ‘solidarity between member states’ 3 were relegated to rhetoric. European integration aimed at ‘growth’, a ‘social’ Europe beyond the common market, the single currency and a vague notion of a common foreign policy. The political and economic conditions prevailing after 2004 expedited this trend, turning attention exclusively to the problems of the single market, and the single currency. Policies for growth and initiatives to reduce the imbalances between member

in The European debt crisis
Mike Buckle and John Thompson

bank. Banks that took the rescue packages had to agree to restrictions on executive pay and dividends to existing shareholders, as well as an agreement to offer reasonable credit to homeowners and small businesses. In the long term it was hoped that the cost of this programme would be offset by dividends received from the shares bought by the government, and eventually to

in The UK financial system (fifth edition)
Mike Buckle and John Thompson

carry out day-to-day supervision. The EU supervisory system has resulted in some changes regarding how the four-level legislative procedure, introduced under the Lamfalussy approach, operates. Level 1 directives and regulations set the high-level political objectives in the area concerned. Occasionally, at this early stage, the European Commission may ask ESMA for technical

in The UK financial system (fifth edition)
Abstract only
Introduction
Mike Buckle and John Thompson

. International financial institutions have been attracted to a number of features of London. These include a suitable pool of experienced and skilled labour, relatively light restrictions on access to financial markets, a tax regime which is not hostile to financial innovation, the absence of exchange controls since 1979, relatively light reserve requirements, a stable political regime

in The UK financial system (fifth edition)