This collection of articles follows the international conference, which was held at the Institute of Europe on 29 March 2017. The first volume is devoted to the history of the EEC-EU, the current situation and possible scenarios of EU development in light of Brexit. The authors analyze global challenges, which the EU has faced in recent years: the consequences of the world economic crisis, European identity crisis, migrants’ inflow, strategic partnership with the new U.S. administration. Special attention is paid to the founding countries, above all, the Franco-German tandem: the authors reveal not only the historical contradictions that France and Germany had to overcome, but also the new problems of leadership due to the current crisis in the EU. The second part focuses upon the countries that joined the European project at a later date, candidate countries and those who still aspire to join to the European Union.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.