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Author Question: Describe the single supervisory mechanism or SSM proposed by EU leaders in June of 2012. What ... (Read 18 times)

kamilo84

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on: Jun 30, 2018
Describe the single supervisory mechanism or SSM proposed by EU leaders in June of 2012.
 
  What will be an ideal response?

Question 2

What is fiscal federalism?
 
  What will be an ideal response?


kmb352

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Reply #1 on: Jun 30, 2018
Answer to Question 1

The SSM involved granting the European Central Bank the power to police banks throughout the euro zone and the ability to re-capitalize banks directly if needed.

Answer to Question 2

Fiscal federalism in the euro zone involves establishing a larger centralized budget managed by a central fiscal authority with the capability to tax, spend, and issue euro bonds.


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