After the collapse of SVB and Credit Suisse, Nikolay Gertchev's book is more relevant and important than ever. Lombard Street for the 21st century. The work is mandatory reading for all students of modern money and banking.
— Philipp Bagus, Rey Juan Carlos University
What role do banks serve in the modern financial system? This essential book guides the reader through a logical approach to both micro- and macro-prudential regulations, arguing that market discipline and a return to clearly defined property rights in money allow for a stronger foundation for banks, promoting healthier and more robust economies. This analysis is essential reading for any and all interested in the future of banking.
— David Howden, Saint Louis University-Madrid Campus
At least since the 1930s, economists have shied away from providing a systematic explanation of the causes, consequences, and evolution of banking regulation, abandoning the field to the untutored efforts of lawyers and practitioners. Not so the author of this book, Nikolay Gertchev, who considers it the professional responsibility—nay, the 'moral duty'—of economists to analyze banking regulation through the unclouded lens of economic theory. In accepting this duty, Gertchev has written a book that is a worthy successor to the last great work on banking regulation, the nineteenth-century classic Lombard Street by Walter Bagehot.
— Joseph T. Salerno, Mises Institute
Though it is always good to listen to what Gertchev has to say on monetary issues, The Evolution of Banking Regulation in the European Union deserves special attention as an attempt to tackle regulatory aspects of banking in the European Union from an Austrian perspective. A fine resource for those interested in the pressing issue of European financial architecture.
— Mateusz Machaj, University of Wroclaw
To understand banking regulation issues and possible ways out, there is no better source than this brilliantly written monograph. Dr. Nikolay Gertchev is a veteran practitioner of financial regulation and one of the finest economic thinkers today. His book is essential reading for politicians, financial regulators, and all students of present-day money and banking.
— Guido Hülsmann, Université d'Angers