Credit Cooperative Institutions in European Countries
This book offers a comparative analysis of credit cooperative systems across 23 European countries. Cooperative banking has an important place in the financial, economic and social life of most European countries, and while cooperative banks, credit mutua
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Simeon Karafolas Editor
Credit Cooperative Institutions in European Countries
Contributions to Economics
More information about this series at http://www.springer.com/series/1262
Simeon Karafolas Editor
Credit Cooperative Institutions in European Countries
Editor Simeon Karafolas Western Macedonia University of Applied Sciences Kozani, Greece
ISSN 1431-1933 ISSN 2197-7178 (electronic) Contributions to Economics ISBN 978-3-319-28783-6 ISBN 978-3-319-28784-3 (eBook) DOI 10.1007/978-3-319-28784-3 Library of Congress Control Number: 2016935719 © Springer International Publishing Switzerland 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer International Publishing AG Switzerland
Preface
At a recent ICA1 conference, a speaker stated that he did not consider financial capital to be an important parameter in cooperative institutions, including credit cooperative institutions. Another speaker stated that on the contrary financial capital in a credit cooperative institution can have a crucial role; he referred to the case of Cyprus where the whole system has been jeopardized because of changes in the capital requirements for credit unions and to the case of Greece, where the Central Bank revoked the license of some cooperative banks which did not achieve capital adequacy. The first speaker had the experience of a big European country with an old and well-established credit cooperative system, while the second speaker had the experience of a newly established credit cooperative system. Different experiences of specialists result in very different views on similar issues. This book allows us to see the sharp contrasts between the credit cooperative systems throughout the EU. Credit cooperative systems do not have the same evolution or structure. Many differences exist between countries, including EU countries, not least in their appellation as cooperative
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