Which Lender of Last Resort for Europe? - Risk Books
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Which Lender of Last Resort for Europe?

Edited By Charles A. E. Goodhart


Which Lender of Last Resort for Europe? combines contributions from leading academics with those of the key authorities responsible for European banking markets. The result is a comprehensive analysis of how Europe can safeguard its financial stability.

A Central Banking Publications book

Publish date: 28 Dec 1999

Availability: In stock


Book description

In the post-war period, in the words of the editor, Charles Goodhart, the “re-emphasised primacy, and clarity, of the monetary stability role has, in practice, been accompanied by some uncertainties about, and even withdrawal from, the second main historical role of central banks, i.e. the provision of financial stability.”

Which Lender of Last Resort for Europe? considers how central banks can perform their financial stability remit even when direct supervision is carried out elsewhere. The authors examine the difficult and politically charge role, which all central banks play, as lenders of last resort.

Book details

Publish date
28 Dec 1999
155mm x 235mm

Editor biography

Charles A. E. Goodhart

Charles Goodhart, CBE, FBA is a member of the Financial Markets Group at the London School of Economics (LSE), having previously, 1987-2005, been its deputy director. From 1985 until his retirement in 2002, he was the Norman Sosnow professor of banking and finance at LSE. Before then, he worked at the Bank of England for 17 years as a monetary adviser, becoming a chief adviser in 1980. In 1997 he was appointed one of the outside independent members of the Bank of England’s new Monetary Policy Committee. Besides numerous articles, he has written a couple of books on monetary history, a graduate monetary textbook, a number of books and articles on financial stability (on which subject he was adviser to the governor of the Bank of England, 2002-04) and numerous other studies relating to financial markets, monetary policy and history.

Table of contents

Charles A. E. Goodhart (London School of Economics)

Emu and Banking Supervision
Tommaso Padoa-Schioppa (European Central Bank)

A Lender of Last Resort for Europe
Michel Aglietta (University of Paris)

Financial Stability in European Economic and Monetary Union
Alessandro Prati and Garry J. Schinas (International Monetary Fund)

Lending of Last Resort and Systematic Stability in the Eurozone
Franco Bruni (Universita Bocconi of Milan) and Christian de Boissieu (University of Paris)

The Role of the European Central Bank with regard to Financial Stability and Lender of Last Resort Operations
Rosa Maria Lastra (Centre for Commercial Law Studies)

What Kind of Financial Stability for Europe?
Dirk Schoenmaker (Netherlands Ministry of Finance)

Who Takes Care of Financial Stability in Europe?
Lorenzo Bini Smaghi (Italian Ministry of Finance)

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