CORDIS
EU research results

CORDIS

English EN
SYstemic Risk TOmography: Signals, Measurements, Transmission Channels, and Policy Interventions

SYstemic Risk TOmography: Signals, Measurements, Transmission Channels, and Policy Interventions

Objective

During the second half of 2011 sovereign and banking risks increased in the Eurozone in an environment of weakening macroeconomic growth prospects. Contagion effects have become substantial also accelerated by the interplay between vulnerability of public finances and financial sector. Furthermore, bank funding pressures increased markedly thus feeding the fear of the Euro crash.
The SYRTO project aims at exploring the relationships between sovereigns – banks and other financial intermediaries (BFIs) – corporations of the European Union with the following objectives:
1. Identify the common (”fundamental”) and the sector-specific (idiosyncratic) risks, and assemble an Early Warnings System (EWS) to be used as risk barometer for each sector and countries alike, in order to identify potential threats to financial stability, and as a system of rule of thumbs by monitoring a series of leading indicators so as to minimise the possible negative impacts from systemic crises, preventing contagion effects also including the appropriate mechanisms to restore systemic crisis problems.
2. Explore policy and monetary issues relative to systemic risk developing a “SYRTO Code” in order to detect a series of recommendations, also expressed in terms of EWS prescriptions, on the appropriate governance structures for EU to prevent and minimise systemic risks, and on the best mechanisms for ensuring an effective interplay between, and coordination of, macro and micro-prudential responsibilities.
SYRTO is conceived, articulated and devoted to lay the foundations for a better macro-economic and monetary integration in Europe.
The expected impacts of the project are directed towards the developing of conceptual and analytical underpinnings for efficient macroprudential policies in order to reshaping the European economy and strengthening the political unity of the EU.
Leaflet | Map data © OpenStreetMap contributors, Credit: EC-GISCO, © EuroGeographics for the administrative boundaries

Coordinator

UNIVERSITA DEGLI STUDI DI BRESCIA

Address

Piazza Mercato 15
25121 Brescia

Italy

Activity type

Higher or Secondary Education Establishments

EU Contribution

€ 731 080

Administrative Contact

Roberto Savona (Prof.)

Participants (4)

Sort alphabetically

Sort by EU Contribution

Expand all

CENTRE NATIONAL DE LA RECHERCHE SCIENTIFIQUE CNRS

France

EU Contribution

€ 333 576

ATHENS UNIVERSITY OF ECONOMICS AND BUSINESS - RESEARCH CENTER

Greece

EU Contribution

€ 264 120

UNIVERSITA CA' FOSCARI VENEZIA

Italy

EU Contribution

€ 553 048

STICHTING VU

Netherlands

EU Contribution

€ 591 240

Project information

Grant agreement ID: 320270

Status

Closed project

  • Start date

    1 March 2013

  • End date

    29 February 2016

Funded under:

FP7-SSH

  • Overall budget:

    € 3 088 884

  • EU contribution

    € 2 473 064

Coordinated by:

UNIVERSITA DEGLI STUDI DI BRESCIA

Italy