Despite the high hopes for EU-wide financial stability invested in the European Economic and Monetary Union, it is becoming more and more evident that the limited supervisory role of the European Central Bank has added to an already overcomplicated situation. Although European regulatory competences are now increasingly formalised through detailed rule-making, they remain broad and widely discretionary. It is still the many different national authorities that are regulating or supervising banks and other financial institutions. The root issue¿what is the relationship between an effective European supervisor and the supervisory functions that remain at the Member State level?¿has not yet been adequately addressed.
The essays in this important book ask the question: Given that there is no viable political structure to support an international regulator of financial markets, what can lead to regulatory change in Europe? The authors demonstrate convincingly that if this question is not answered soon¿and especially if the reality of the need for regulation to avert international financial crises is not faced squarely¿then we will continue to experience panic-stricken short-term responses to repeated crises.
Among the core issues of relevance analysed in the book are the following:
the increase in systemic risk that accompanies the introduction of the Euro;
the inability of mere cooperation between national authorities to handle crises;
the European Central Bank as an organisational model for the development of a single European regulator;
the persistence of a traditional national character in surrounding areas of law such as contract law and company law;
the heretofore intractable problem of the double burden of having to follow more than one set of national rules; and,
the apparent inertia of major business players, in spite of the obvious benefits for them of EU level regulation.
Financial Markets in Europe offers a large and welcome measure of clear thinking to the entire professional community¿regulators, bankers, scholars, insurance professionals, securities managers¿engaged in the complex field of activity guided by monetary policy and supervision of financial markets. Because it raises broad issues and perspectives for a globalised world, it will be of value not only in Europe but to financial services specialists everywhere.
Introduction, About the Authors
Chapter One Cyberlaw: A Potent New Medicine
for Health Law on the Internet D. Crolla I. Introduction
II. Today’s health care system: from limited Resources to the “wild wild
west” of law
III. Selected e-health issues
IV. Concluding
remarks
Chapter Two Telemedicine and the E-Commerce Directive S.
Callens I. The impact of internet on health care and telemedicine
II. The impact of the e-commerce directive on health online
III.
Conclusion
Chapter Three Risks of E-Health J. McMenamin I.
Medical Malpractice
II. Conclusion
Chapter Four Sealing in the
Quality: A Classification of Quality Assurance Initiatives for Health-Related
Information on the Internet P.Wilson I. Introduction
II.
Conclusion
Chapter Five Enhancing Our Health through E-Ethics and
Cybermedicine? K. Dierickx I. Introduction
II.
Concepts and applications
III. New ethical problems?
IV. The
doctor–patient relationship
V. Concluding remarks
Chapter Six
Bioethical, Geoethical and Commercial Practicality Assessment of the Draft
International Convention on Telemedicine and Telehealth M. Rothblatt
I. Summary of the draft convention
II. Bioethical analysis
III.
Geoethical analysis
IV. Commercial practicality analysis
Chapter
Seven The European Data Protection Legislation and the Medical Records
S. Brillon I. Introduction
II. The recording of medical
records
III. Right of access to the medical record
IV. The
transfer of health data to third countries
V. The use of medical record
for Scientific research
Chapter Eight The European Perspective on E-Health
Arno J.P. Beurden I. Introduction
II. E-europe
III.
Health online
IV. E-commerce directive
V. Competition issues on
the internet
VI. What has been accomplished?
VII. Concluding
remarks
Chapter Nine Data Subject’s Consent and Cross-Border Data
Processing Christian Dierks I. Introduction
II.
Directive 95/46/EC of 24 October of 1995
III. Cross-border data
processing
IV. Derogations according to article 26
V. Data
subject’s consent – Primary condition?
VI. “secondary”
conditions
VII. Ehtel working group T6
VIII. Conclusion Annexe
1, Annexe 2, Annexe 3, Index
