soldiThe January 1, 2011 became operational the new European System of  Financial Supervision, created by Directive 2010/78 / EU and associated regulations, which establish and regulate a network of European Authorities who control closely the “systemic risk” inside the ‘EU highlighted for the first time with the de Larosière report in 2009. This is aimed at avoiding possible collapse of banking institutions or sovereign states that could lead to a destabilization also sociopolitical Eurozone.
An institution thus created, mainly the EBA (European Banking Authority), EIOPA (European Insurance and Occupational Pension Authoriry) ESMA (European Securities and Market Authority) and the ESRB (European Systemic Risk Board, but no personality legal) will assess the risk more closely linked to the financial market, the circuit and pension insurance, the banking system. Also the entire system of the ESFS will be designed to highlight best practices and guidelines for decision-makers in the EU with a view to genuine reform for a European “sustainable finance” that does not submit again on Member States to systemic shocks or speculative.