by: Daniel Calleja, Tim Maxian Rusche, Trajan Shipley* “Europe will be forged in crises, and will be the sum of the solutions adopted for those crises” Jean Monnet[1] INTRODUCTION Since 2008, the Union faced a series of crises. The response – sometimes after initial attempts by Member States to “go it alone” – was ultimately always found at the level of the Union, within the existing EU Treaties, as they stood after the Treaty of Lisbon, and entailed new tasks and new responsibilities for the Union.[2] Sometimes, available legal options were straightforward: The Europeanisation of banking supervision relied on […]
Daily Archives: October 28, 2024
3 posts
by: Dora Kostakopoulou* Migration is a critical policy issue on a global scale. The number of international migrants and refugees worldwide has continued to grow rapidly in the 21st century while the decline in growth in working age population in the developed world ranges from moderate to severe in various countries. Environmental degradation and climate change are bound to induce large scale displacements of people in the near future as well as to expose the general lack of preparedness and deficiencies in policy in European Union countries and elsewhere. Yet, politicians are still attracted to the zero-migration myth and to restrictive migration […]
by Alessio Azzutti,* Pedro M. Batista,** Wolf-Georg Ringe*** Banking supervisors worldwide recognize the pressing need to harness frontier supervisory technology (SupTech) such as Artificial Intelligence (AI) to improve operational efficiency, enhance analytical capabilities, and augment decision-making. The European Central Bank (ECB) is no exception and has established a dedicated SupTech Hub to explore these opportunities. While existing literature primarily focuses on the techno-economic aspects of AI adoption by financial supervisors, this Article examines its techno-legal boundaries. The integration of AI-related technologies into banking supervision raises complex questions of fairness, transparency, and accountability, which, if not adequately addressed, can jeopardize the […]