What is so special about European Shadow banking?

The 2007 financial crisis revealed the existence of a completely parallel funding system outside of […]

Policy Study

10/08/2016

The 2007 financial crisis revealed the existence of a completely parallel funding system outside of regular banking, the so-called shadow banking system (SBS). Researchers have focused on the American SBS, but the European SBS has received little attention. Yet different features specific to continental Europe make it difficult to just copy and apply the analysis of the US SBS to a reality that is different on the old continent. In this paper we argue that the European SBS is not merely a by-product of the American SBS but rather has unique roots that have led to a distinct type of SBS. In particular, the European SBS occurs partly within the banks themselves. Indeed, the European SBS exists within the framework of a different variety of capitalism than that of the US. Finally the US and European SBS are strongly interconnected, playing a major role in the spread of the crisis.

Read the study

Find all related publications
Publications
21/03/2023

Is an EU-wide approach to the mental health crisis necessary?

Demand for an EU mental health strategy existed before the pandemic but has intensified since. […]
15/03/2023

A five-point agenda for how development cooperation can support EU’s strategic autonomy

European Strategic Autonomy series - Economy & Trade
13/03/2023

EU fiscal rules: Time for a reboot

The EU fiscal rules are one of, if not the most discussed aspects of EU […]
08/03/2023

Abortion in the European Union

Actors, issues and discourse
Find all related news
News
13/03/2023

Digital programme: Algorithms at the workplace

FEPS, together with Nordic partners, launched a Digital Program on algorithmic management and workers' rights
20/02/2023

When will European women start earning the same as men?

Spoiler alert: that day hasn’t arrived yet
20/02/2023

Let’s end involuntary unemployment!

European survey on the perception of unemployment and publicly funded jobs
07/02/2023

New study on how and why social issues have increased in prominence during the EP negotiations

Progress towards inclusive economic transition but need for further improvements in terminology and framing of vulnerable groups
Find all related in the media
In the media

Irish mental health services ‘too hospital-centric’

by Irish Examiner 23/03/2023
Irish Examiner article on FEPS and TASC policy study "Is an EU-wide approach to the Mental Health Crisis necessary?"

Ireland lacks key mental health services, report finds

by RTÉ 23/03/2023
RTÉ article on FEPS and TASC policy study "Is an EU-wide approach to the Mental Health Crisis necessary?"

‘No one is unemployable’: the French social experiment

by EUobserver 21/03/2023
EUobserver article on unemployment in the EU with a mention to FEPS' policy brief 'A Job Guarantee for Europe.'

Irak – 20 év után

by Mérce 20/03/2023
'Iraq - after 20 years' Mérce (HU) article by FEPS Secretary General, László Andor.