Christos Gortsos

National and Kapodistrian University of Athens

Professor of Public Economic Law

Akadimias 45

Athens, 10672

Greece

SCHOLARLY PAPERS

34

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9,758

SSRN CITATIONS
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Top 18,440

in Total Papers Citations

15

CROSSREF CITATIONS

41

Ideas:
“  I am currently working on the impact of the coronavirus on EU financial stability  ”

Scholarly Papers (34)

1.

Pandemic Crisis and Financial Stability

European Banking Institute Working Paper Series Forthcoming
Number of pages: 481 Posted: 22 May 2020
National and Kapodistrian University of Athens, University of Hamburg - Institute of Law & Economics, Radboud University Nijmegen - Institute for Financial Law (IFR), Ghent University - Financial Law Institute, Trinity College Dublin - School of Law, University of Bonn, London School of Economics & Political Science (LSE), University of Bologna - Department of Business Law, Universidad Carlos III de Madrid, University of Lisbon - School of Law. Jean Monnet Chair – Economic Regulation in the EU, Bocconi University - Department of Law, University of Genoa - Law Department, European Banking Institute, University Rome III, Department of Law, University of Oxford Faculty of Law, University of Naples Federico II - Department of Economics and Statistics, Università Cattolica and Università Cattolica del Sacro Cuore
Downloads 1,456 (15,069)
Citation 1

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2.

The Single Resolution Mechanism (SRM) and the Single Resolution Fund (SRF): Legal Aspects of the Second Main Pillar of the European Banking Union (Fifth- Extended and Fully Updated - Edition)

Number of pages: 336 Posted: 06 Oct 2015 Last Revised: 04 Jun 2019
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 1,217 (19,779)
Citation 13

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European Banking Union, SRM, SRF, SRB, Preparation for Resolution, MREL, TLAC, Resolution Objectives, Powers and Tools, NCWO Principle, Bail-In, Precautionary Recapitalisation, Winding-Up

3.
Downloads 923 (29,718)
Citation 1

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EMU, ESCB, ECB, monetary policy, asset purchase programmes (APPs), emergency liquidity assistance (ELA), ESFS, micro-prudential supervision, macro-prudential oversight, significant and less significant credit institutions

4.

The Evolution of European (EU) Banking Law under the Influence of (Public) International Banking Law: A Comprehensive Overview (Third fully updated edition)

Number of pages: 318 Posted: 06 Mar 2019 Last Revised: 19 Jan 2021
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 561 (57,929)
Citation 2

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public international financial law, standard setting bodies, Compendium of Standards and Codes, Financial Stability Board FSB, Basel Committee on Banking Supervision, EU banking law, BU, SSM, SRM, DGSD ,ELA mechanism, pandemic crisis

5.

The Response of the European Central Bank to the Current Pandemic Crisis: Monetary Policy and Prudential Banking Supervision Decisions

European Banking Institute Working Paper Series 2020 - no. 68
Number of pages: 25 Posted: 21 Jul 2020
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 459 (74,385)
Citation 3

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pandemic crisis, ECB, ESRB, conventional monetary policy measures, unconventional monetary policy measures, SSM, EBA, micro-prudential supervision, NPLs, “Basel III impact”, macro-prudential buffers, CRR

6.

The Evolution of European Banking Law: From the Principle of National Treatment to the European Banking Union

Number of pages: 31 Posted: 04 Oct 2015
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 442 (77,824)
Citation 1

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European Banking Union, ESFS, SSM, SRF, SRM, ESRB, credit institutions, ECB, micro-prudential supervision, micro- and macro-prudential regulation, macro-prudential oversight, resolution of credit institutions, deposit guarantee schemes

7.

Stricto Sensu Investor Protection Under the 'MiFID II': A Systematic Overview of Articles 24-30

Number of pages: 210 Posted: 10 Jun 2017 Last Revised: 01 Mar 2018
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 421 (82,458)
Citation 3

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MiFID I, MiFID II, MiFIR, investment services, credit institutions, investment firms, duty to act honestly, best interests of clients, best execution, client order handling rules, manufacturing and distribution of products, inducements, executing orders, retail clients, suitability, appropriateness

8.

The European Supervisory Authorities (ESAs) As 'Direct' Supervisors in the EU Financial System

European Banking Institute Working Paper Series – No. 57 (2020)
Number of pages: 20 Posted: 11 Feb 2020
Christos Gortsos and Katerina Lagaria
National and Kapodistrian University of Athens and Panteion University of Athens - Department of International, European and Regional Studies
Downloads 304 (119,041)

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ESAs, ESMA, EBA, EIOPA, ESFS, supervision of financial institutions, European financial law, EU financial regulation, MiFIR, short selling, credit-rating agencies, trade repositories, EU agencies, regulatory agencies, Capital Markets Union, single rulebook, CJEU

9.
Downloads 275 (132,256)
Citation 2

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solidarity, EU fiscal stimulus, EU budget, general escape clause of the EU fiscal framework, Coronavirus Response Investment Initiatives (CRII), European Union Solidarity Fund (EUSF), Eurosystem, Single Supervisory Mechanism (SSM), European Banking Authority (EBA), European Investment Bank (EIB), Em

10.

The 'Comitology Procedure' Under the European Parliament and Council Regulation (EU) No 182/2011 and its Importance for EU Banking Law

ECEFIL Working Paper Series No 2016/14
Number of pages: 34 Posted: 15 Jan 2016
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 268 (135,791)
Citation 6

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TFEU, implementing acts, European banking law, Lamfalussy process, Comitology Regulation, Comitology procedures, examination and advisory procedures, European Commission, Comitology Committees, Appeal Committee

11.

The Role of Deposit Guarantee Schemes (DGSS) in Resolution Financing

European Banking Institute Working Paper Series 2019 – no. 37
Number of pages: 36 Posted: 29 Mar 2019
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 261 (139,572)
Citation 2

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12.

The Taxonomy Regulation: More Important Than Just as an Element of the Capital Markets Union

European Banking Institute Working Paper Series 2020 - no. 80
Number of pages: 40 Posted: 16 Dec 2020
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 228 (159,299)

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Taxonomy Regulation, Sustainable Finance Disclosure Regulation, Capital Markets Union, Action Plan on Financing Sustainable Growth, environmental objectives, environmentally sustainable economic activities, environmentally sustainable investments, substantial contribution to environmental objectives

13.

Financial Inclusion: An Overview of Its Various Dimensions and the Initiatives to Enhance Its Current Level

ECEFIL Working Paper Series No 2016/15
Number of pages: 32 Posted: 16 Jan 2016
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 220 (164,881)
Citation 3

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financial inclusion and exclusion, financial literacy, financial education, interaction with monetary policy, financial stability and anti-money laundering terrorist financing preventive measures

14.

A Poisonous (?) Mix: Bail-Out of Credit Institutions Combined with Bail-In of Their Liabilities Under the BRRD – The Use of ‘Government Financial Stabilisation Tools’ (GFSTs)

Paper presented at the Workshop of the Financial and Monetary Law Working Group of the European University Institute (EUI, Florence, 12 October 2016)
Number of pages: 28 Posted: 30 Nov 2016
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 217 (166,939)

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BRRD, credit insitutions, bail-in, bail-out, liabilities, government financial stabilisation tools (GFSTs), SRB, ECB, SRM, SRF, EBA, SRMB, ESM, DRI, SSM, recapitalisation, resolution, winding up

15.

The Power of the ECB to Impose Administrative Penalties as a Supervisory Authority: An Analysis of Article 18 of the SSM Regulation

ECEFIL Working Paper Series No 2015/11
Number of pages: 34 Posted: 30 Oct 2015
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 191 (187,897)

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SSM, Supervision, significant supervised entities, less significant supervised entities, ECB, national competent authorities, European Banking Union, micro-prudential supervision, micro-prudential regulation, macro-prudential regulation, credit institutions, administrative penalties

16.

Institutional and Legal Aspects of the European Banking Union: Status Quo and the Way Forward

Number of pages: 46 Posted: 03 Jan 2018 Last Revised: 30 Jan 2018
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 189 (189,652)
Citation 3

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European Banking Union (EBU), SSM, Single Resolution Mechanism (SRM), MREL, Single Resolution Fund (SRF), European Deposit Insurance Scheme (EDIS), Legislative 2016 'Banking Package', European Monetary Fund (EMF), Common Backstop, EMU, Failures, Regulatory, Supervisory, Macroeconomic Failures

17.
Downloads 183 (195,208)
Citation 1

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fiscal crisis, Euro Area, Greek banking system, stability, regulatory, European Banking Union, ECB, European Banking Authority, European Stability Mechanism, IMF, Bank of Greece, ELA, PSI, Hellenic Financial Stability Fund, Hellenic Deposit and Investments Guarantee Fund, recapitalisation

18.

Deposit Guarantee Schemes: General Aspects and Recent Institutional and Regulatory Developments at International and EU Level

Number of pages: 29 Posted: 05 Apr 2016 Last Revised: 06 Apr 2016
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 182 (196,195)
Citation 6

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Deposit guarantee schemes, European Banking Union (EBU), moral hazard, too big to fail, International Association of Deposit Insurers (IADI), Basel process, European Deposit Insurance Scheme (EDIS), European Deposit Insurance Fund (EDIF)

19.

Last Resort Lending to Solvent Credit Institutions in the Euro Area Before and after the Establishment of the Single Supervisory Mechanism (SSM)

This paper was presented in the European Central Bank (ECB) Legal Conference: "From Monetary Union to Banking Union, on the way to Capital Markets Union: new opportunities for European integration" held in Frankfurt on 1-2 September 2015
Number of pages: 24 Posted: 21 Nov 2015
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 182 (196,195)

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last resort lending, European Central Bank (ECB), national central banks, Eurosystem, Emergency Liquidity Assistance (ELA), European Banking Union, Single Supervisory Mechanism (SSM), significant credit institutions, Treaty on the Functioning of the European Union, financial stability mandate

20.

Macro-Prudential Tasks in the Framework of the Single Supervisory Mechanism (SSM): An Analysis of Article 5 of the SSM Regulation

ECEFIL Working Paper Series No. 2015/12
Number of pages: 26 Posted: 04 Oct 2015
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 176 (201,996)
Citation 4

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European Banking Union, SSM, SSM Regulation, macro-prudential oversight, macrodrudential regulation

21.

‘Chinese Walls’ within the European Central Bank after the Establishment of the Single Supervisory Mechanism

This paper was presented at the conference of the University of Siena on: “The Europeanisation of the Payment System, II Edition” (22-24 October 2015)
Number of pages: 18 Posted: 08 Dec 2015
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 159 (220,147)

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European Central Bank (ECB), Single Supervisory Mechanism (SSM), Single Supervisory Mechanism Regulation (SSMR), Chinese walls, separation of supervisory and monetary tasks within a central bank, professional secrecy, ECB's Confidentiality Regime, ECB's Mediation Panel, reputational risk

22.

The Powers of the ESMA in Case of Breach of European Union Law: The Particular Case of Breaching the 'Non Bis in Idem' Principle

Forthcoming, Journal of Financial Law (2017), Nomiki Bibliothiki, Athens
Number of pages: 18 Posted: 27 Dec 2016
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 153 (227,353)

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ESMA, regulation, supervision, ESFS, ESAs, EBA, EIOPA, ESRB, CEBS, CESR, CEIOPS, supervisory authority, breach, EU law, ECHR, Court of Justice, rules of procedure

23.

A Proposal for a Temporarily Amended Version of Precautionary Recapitalisation Under the Single Resolution Mechanism Regulation involving the European Stability Mechanism

European Banking Institute Working Paper Series 2020 - no. 73
Number of pages: 22 Posted: 10 Sep 2020
Christos Gortsos, Michele Siri and Marco Bodellini
National and Kapodistrian University of Athens, University of Genoa - Law Department and Queen Mary University of London, School of Law - Centre for Commercial Law Studies
Downloads 151 (229,850)
Citation 2

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public policy, credit institutions, NPL, capital requirements, COVID-19, SRB, SRMR, ESM, ECB, Banking Union, CET1

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Packaged retail and insurance based investment products (PRIIPs), packaged retail investment products (PRIPs), retail clients, fluctuations due to exposure to specific factors, direct holding, callable corporate bonds

25.

Safeguarding the Stability of the Greek Banking System Amidst the Fiscal Crisis in the Euro Area: Arrangements Before and After the Establishment of the European Banking Union

Paper presented at the Workshop of the European University Institute (EUI, Florence) on: “The European Banking Union and Its Instruments: Experience from the First Years of an Interplay with National Banking Supervision and Resolution” (2016)
Number of pages: 29 Posted: 04 Dec 2016
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 122 (271,626)

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Stability, banking system, fiscal crisis, EBU, SSM, SRM, SRF, FSSA, IMF, World Bank, Bank of Greece, Economic Adjustment Program, deficit, ELA, PSI, HFSF, HDIQF, recapitalization, credit institution, regulation, resolution, supervision, single rulebook, CRR, CRD, BRRD, capital controls, bank holiday

26.

The Basel Committee on Banking Supervision through the Lens of Its 2013 Charter

Number of pages: 46 Posted: 18 Jan 2017
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 113 (286,906)
Citation 2

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Basel Committee, BIS, international financial fora, standard-setting bodies, standards, soft law, micro-prudential supervision, regulation, Basel process, GHOS, sound practices, guidelines, RCAP, FSI, Basel III regulatory framework, member jurisdiction and thematic assessments

27.

The Proposed Legal Framework for Establishing a European Monetary Fund (EMF): A Systematic Presentation and a Preliminary Assessment

Number of pages: 56 Posted: 22 Dec 2017
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 112 (288,675)
Citation 3

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EMF, Regulation, Statute, ESM Treaty, Stability Support Operation, Financial Assistance Facilities/Instruments, Agreement, Monitoring Report, MoU, Common Backstop, SRB, SRF, Capital and Lending Capacity, Initial Authorised Capital Stock, Contribution Key, BoG, BoD, Managing Director

28.

The Scope of the EU Alternative Investment Fund Managers Directive (2011/61/EU) and Its Significance for EU Investment Funds Law

Forthcoming in “Essays in honour of Ilias Krispis”
Number of pages: 26 Posted: 18 Jul 2017
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 92 (329,066)

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alternative investment funds (AIFs), alternative investment fund managers, EU investment funds law, national private placement regime (NPPR), European venture capital funds, European social entrepreneurship funds, European long-term investment funds, Lamfalussy process, ESMA, UCITS,

29.

Considerations on the application of the NCWO principle under the SRM Regulation

European Banking Institute Working Paper Series 2021 - no. 88
Number of pages: 24 Posted: 19 Mar 2021
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 82 (353,101)

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Resolution of credit institutions, NCWO principle, Charter of Fundamental Rights of the European Union, SRM Regulation, Financial Stability Board (FSB), Key Attributes, public interest assessment (PIA), failing or likely to fail (FOLF), bail-in, covered deposits, Valuations 1, 2 and 3

30.

The Role of Deposit Guarantee Schemes (DGSs) within the Crisis Management Framework

European Banking Institute Working Paper Series 2020 - no.78
Number of pages: 28 Posted: 01 Dec 2020
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 81 (355,659)

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Deposit guarantee schemes (DGSs), bank runs, stability of the banking system, bank safety net, resolution financing, ‘no creditor worse off (NCWO) principle’, moral hazard, too big to fail, International Association of Deposit Insurers (IADI)

31.

The Prospectus Regulation (Regulation (EU) 2017/1129) and the Recent Proposal for an EU Recovery Prospectus: Elements of Continuity and Change with the Past and the Way Forward

European Banking Institute Working Paper Series 2020 - no. 79
Number of pages: 33 Posted: 08 Dec 2020
Christos Gortsos and Marialena E. Terzi
National and Kapodistrian University of Athens and Goethe University Frankfurt - Institute of Law and Finance
Downloads 77 (366,264)

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Prospectus Regulation, Prospectus Directive, shelf registration mechanisms, materiality of risk factors, SME growth market, disclosure regimes, Universal Registration Document (URD), EU Growth Prospectus, passporting regime, Capital Markets Recovery Package, EU Recovery Prospectus Regulation

32.

Identifying Groups as ‘Financial Conglomerates’ Under European Financial Law (Directive 2002/87/EC): A Not So Straightforward Exercise

Number of pages: 34 Posted: 08 Nov 2017
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 71 (383,285)
Citation 2

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financial conglomerates, list of financial conglomerates, group-subgroup, regulated entities, mixed financial holding companies, coordinator, financial sector, insurance sector, banking and investment services sector, sectoral rules, significant cross-sector financial activities, financial position

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sovereign bond-backed securities (SBBSs), securitisation, diversification of sovereign exposures, underlying portfolio, tranches, special purpose entities (SPEs), European Systemic Risk Board (ESRB), European Securities and Markets Authority (ESMA)

34.

Legal Aspects of the Single Monetary Policy in the Euro Area: From the Establishment of the Eurosystem to the Current Pandemic Crisis

Number of pages: 66 Posted: 05 Apr 2021
Christos Gortsos
National and Kapodistrian University of Athens
Downloads 12 (665,094)

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EMU, ECB, Eurosystem, basic tasks, monetary policy, asset purchase programmes (APPs), Pandemic Emergency Purchase Programme (PEPP), euro short-term rate (€STR)