References of "Asimakopoulos, Ioannis 50026394"
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See detailAssessing the post-crisis European Economic Constitution: the fiscal perspective
Pantazatou, Aikaterini UL; Asimakopoulos, Ioannis UL

in Hofmann, Herwig; Pantazatou, Aikaterini; Zaccaroni, Giovanni (Eds.) The Metamorphosis of the European Economic Constitution (in press)

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See detailThe Single Resolution Board as a New Form of Economic Governance
Asimakopoulos, Ioannis UL

in Hofmann, Herwig; Pantazatou, Aikaterini; Zaccaroni, Giovanni (Eds.) The Metamorphosis of the European Economic Constitution (in press)

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See detailConventional and Unconventional Monetary Policy
Pantazatou, Aikaterini UL; Asimakopoulos, Ioannis UL

in Fabbrini, Federico; Ventoruzzo, Marco (Eds.) Research Handbook on European Economic Law (in press)

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See detailIn CCP We Trust ... Or Do We? Assessing the Regulation of Central Clearing Counterparties in Europe
Nabilou, Hossein UL; Asimakopoulos, Ioannis UL

in Capital Markets Law Journal (2019), 14(3),

As part of financial market infrastructures, central counterparties (CCPs) have long been deemed systemically important and are likely to gain in importance due to the regulatory developments mandating ... [more ▼]

As part of financial market infrastructures, central counterparties (CCPs) have long been deemed systemically important and are likely to gain in importance due to the regulatory developments mandating central clearing for an increasing number of financial products. This paper focuses on the regulation as well as the recovery and resolution of CCPs in Europe. The existing CCP regulatory framework consists of ex-ante measures, including, among others, capital and liquidity requirements, initial and variation margins, and loss sharing mechanisms. In addition, the European proposal for the recovery and resolution of CCPs (the Proposal) contains several ex-post regulatory measures mainly in the form of rules for recovery and orderly resolution. Having studied the prudential regulatory measures for CCPs contained in the European Market Infrastructure Regulation and the ex-post recovery and resolution measures of the Proposal, this paper puts a spotlight on the specific shortcomings of the existing and proposed rules, in particular in terms of misaligned incentives, externalities, collective action problems, and certain practical impediments, and concludes that it would be misguided to inordinately rely on ex-post measures. Highlighting the limitations of the recovery and resolution mechanisms, this paper proposes that given the systemic importance of CCP functions, it is critical to improve the ex-ante measures whose objective is to prevent the failure of a CCP, rather than ex-post measures, which kick in after its failure. Accordingly, recommendations for making such improvements are proposed. [less ▲]

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See detailPost-Brexit regulatory arbitrage: Basic instincts never change
Asimakopoulos, Ioannis UL

in BrieFin - EBI Newsletter (2019)

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See detailPreparing for Doomsday: Financial Services after a No-Deal Brexit
Asimakopoulos, Ioannis UL

in DCU Brexit Institute Blog (2019)

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See detailSingle Resolution Board: another Meroni extension or another Chapter to Europe's Constitutional Transformation?
Asimakopoulos, Ioannis UL

in SSRN Electronic Journal (2019)

The establishment of the Single Resolution Board (SRB) has pushed the constitutional boundaries of agencification further. After elaborating on the SRB’s powers and safeguards, one can argue that its ... [more ▼]

The establishment of the Single Resolution Board (SRB) has pushed the constitutional boundaries of agencification further. After elaborating on the SRB’s powers and safeguards, one can argue that its governance structure combined with its policymaking powers distinguish the SRB from all other agencies. While trying to assess its legality of establishment and empowerment, this paper seeks to identify the nature of the empowerment, whether Meroni is still fit for purpose, and whether the limits of institutional balance have been bent or indeed broken. After expressing concerns as to the SRB’s compliance with the current EU institutional framework, the paper offers an alternative for exiting this constitutional deadlock by applying Weiler’s theory of constitutional transformation. Such a solution would legitimize the SRB as well as facilitate the functioning of Banking Union. [less ▲]

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See detailThe Veneto Banks Resolution: It Shall Be Called ‘Liquidation’
Asimakopoulos, Ioannis UL

in European Company Law (2018), (5),

The establishment of Banking Union and the Single Resolution Mechanism has been arguably a success for the Eurozone. However, the enforcement of the new rules seems to meet significant challenges related ... [more ▼]

The establishment of Banking Union and the Single Resolution Mechanism has been arguably a success for the Eurozone. However, the enforcement of the new rules seems to meet significant challenges related to legacy problems that could make bank resolution economically and politically unfavourable for Member States. Italy and the two Veneto banks that were liquidated under national laws in June 2017 constitute such a case. However, this paper argues that this ‘orderly liquidation’ was, in essence, a hidden resolution, which raises logical legality concerns as to the actions ultimately taken by the European and national resolution authorities. The fact that public interest for resolution was not found by the Single Resolution Board, but was instead established by the Commission to provide liquidation aid on the grounds of 107(3)(b) TFEU, combined with the reasoning of the Commission’s decision do not seem to conform with the bank resolution and state aid rules currently in place. [less ▲]

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See detailInto the Μaze of Legitimacy and Efficiency; the Single Resolution Board as a Necessity
Asimakopoulos, Ioannis UL; Lamaris-Adamis, Christos

in Dogaru, Tatiana-Camelia (Ed.) (Re)forming Public Administration Paradigms in Global Governance Context (2018)

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See detailInternational law as a Negotiation tool in Banking Union; the case of the Single Resolution Fund
Asimakopoulos, Ioannis UL

in Journal of Economic Policy Reform (2018)

EU’s response to the recent Euro-crisis has involved a mixture of EU and international law, with the latter being linked to all the arrangements that may have fiscal implications for national Member ... [more ▼]

EU’s response to the recent Euro-crisis has involved a mixture of EU and international law, with the latter being linked to all the arrangements that may have fiscal implications for national Member States. The SRF embodies all the controversial characteristics of Banking Union. This article illustrates the legal implications that this political choice creates, and how the interrelation between the SRM, the SRF and the ESM, allows leading economies, including Germany, to control the resolution framework both before and after crisis. This raises questions as to the direction that European Integration is taking and its highly nationalised character. [less ▲]

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See detailInternational Law and the Single Resolution Fund
Asimakopoulos, Ioannis UL

Presentation (2017, September 22)

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