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Abstract The three European Supervisory Authorities (ESAs) are, for almost a decade now, part of the financial landscape, arbiters as well as players in what has turned out to be a complex and frail system. They have served well, but should they remain unchanged? The present article analyses the way they were conceived and set up, their architecture, their legal and substantive characteristics and deals with the question of their reform.
Kostas Botopoulos (2020) studied this question.