Glossary

Glossary

You can find some explanations for abbreviations used inside this journal, and in the common EU tongue, below.

ABSPP: Asset-Backed Securities Purchase Programme

APP: The European Central Bank's Asset Purchase Programme

Bail-in: Participation of creditors in the rescue of institutes/institutions

Bail-out: Debt assumption and repayment by third parties

GDP: Gross Domestic Product

BIS: Bank for International Settlements

BMWi: German Federal Ministry of Economics and Energy

CBPP3: The European Central Bank's Third Covered Bond Purchase Programme

CSPP: The European Central Bank's Corporate Sector Purchase Programme

Divergence: Breaking up, going their separate ways

EDIS: European Deposit Insurance Scheme

EC: European Community

EBA: European Banking Authority

ESM: European Stability Mechanism

ECJ: European Court of Justice

EP: European Parliament

EEC: European Economic Community (forerunner of the European Community EC)

EU: European Union

ECB: European Central Bank

FRED: Federal Reserve Bank St. Louis

IMF: International Monetary Fund

Convergence: Coming together, drawing near

OECD: Organisation for Economic Cooperation and Development

PSPP: Public Sector Purchase Programme of the European Central Bank

QE (quantitative easing): Expansive monetary policy

SRISK function: Loss quantification system for recessions

SSM: The European Central Bank's Single Supervisory Mechanism

SRB: Single Resolution Board

SRF: The European Central Bank's Single Resolution Fund

SRM: Single Resolution Mechanism of European Banks

Subsidiarity: Principle of self-determination, direct responsibility. The cornerstone of the EU treaties, according to which the EU should solve only problems that cannot be solved at national level.

Target 2: Settlement system between national banks in the euro area and the European Central Bank

Troika: Cooperation between the European Central Bank, the International Monetary Fund and the European Commission

Debt criteria: The criteria that lay down how heavily EU member States are allowed to borrow


Political groups in the eighth European Parliament:

(including the names of the lately present German political parties)

EPP: European People's Party (CDU/CSU)

S&D: Progressive Alliance of Socialists and Democrats (SPD)

ECR: European Conservative Reformers (LKR, Bündnis C, Parteilose)

ALDE: Alliance of Liberals and Democrats (FDP, Freie Wähler)

GUE/NGL: European United Left/Nordic Green Left (Linke, Parteiloser)

Grüne/EFA: Greens/European Free Alliance (Grüne, Piraten, ÖDP)

EFDD: Europe of Freedom and Direct Democracy (AfD)

ENF: Europe of Nations and Freedom (Blaue)

independent Members without an EU group affiliation (Die PARTEI, NPD)


Reference for the used photo: