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The European System of Financial Supervision (ESFS) is the framework for financial supervision in the European Union that has been in operation since 2011. The system consists of the European Supervisory Authorities (ESAs), the European Systemic Risk Board, the Joint Committee of the European Supervisory Authorities, and the national supervisory authorities of EU member states. [1]
The Board of the European Financial Stability Facility comprise high level representatives of the 17 eurozone member states, including Deputy Ministers or Secretaries of State or Director Generals of the Treasury. The European Commission and the European Central Bank can each appoint an observer to the EFSF Board.
The European Science Fiction Society (ESFS) is an international organisation of professionals and fans who are committed to promoting science fiction in Europe and European science fiction worldwide. The organisation was founded at the first Eurocon (European Science Fiction Convention), which was held in 1972 in Trieste, Italy. Since that time ...
The New Hanseatic League, established in February 2018 by like-minded finance ministers from Denmark, Estonia, Finland, Ireland, Latvia, Lithuania, the Netherlands and Sweden, [144] [145] is pushing to develop the European Stability Mechanism into a full European Monetary Fund that would redistribute wealth from trade surplus to trade deficit ...
The European Financial Stabilisation Mechanism (EFSM) is an emergency funding programme reliant upon funds raised on the financial markets and guaranteed by the European Commission using the budget of the European Union as collateral. [1]
Following the onset of the European sovereign debt crisis, there was a drive to reform the functioning of the eurozone in the event of a crisis. This led to the creation, amongst other things, of loan (pejoratively called "bailout" in the media) mechanisms: the European Financial Stability Facility (EFSF) for eurozone member states and the European Financial Stability Mechanism (EFSM) for all ...
Therefore, what was known as the level 3 Lamfalussy agencies, the 3L3 Committees (CESR, CEIOPS, CEBS) in this four level framework, were taken over by the current European Supervisory Authorities (ESA are composed of ESMA, EIOPA, EBA) in the European System of Financial Supervision (ESFS) launched in 2011 in answer to the debt crisis. [5]
The Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) is a Directorate-General (DG) of the European Commission. [1] It is one of the thirty three DGs created and named to reflect their functions.