预防欧洲的下一次银行危机

随着美国次贷灾难的冲击波继续产生影响,人们也越来越怀疑欧洲到底有没有能力应对大规模的金融危机。德国、英国、也许还有法国在银行监管领域所犯下的严重错误已经损害了国家监管体系的公信力。但这还只是部分问题。欧洲联盟在处理尚未爆发的危机方面准备依然严重不足:欧洲各银行间越来越多的相互依赖随时可能引发跨国危机。

欧盟的金融一体化进程于20世纪80年代如火如荼的展开,而欧盟委员会和欧洲理事会在金融改革领域则大踏步地向前迈进。里程碑式的事件是1986-1988年取消所有与资本跨境流动有关的限制,以及1999年金融服务立法行动计划的实施。欧元被成功地引入,并迅速成为继美元之后的世界第二大货币。

还有一点或许没那么明显,那就是欧盟在2000-2002年度采用国际财务报告准则的决策引发了全球会计准则一体化的特别行动。与此同时,欧盟委员会坚决维护银行业竞争的态度——特别是在葡萄牙、德国、意大利和波兰——结束了披着谨慎调控外衣的保护主义,而正是这样的举措刺激了跨境金融一体化在发达国家中史无前例的展开。

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