The banking system and its supervision
The aim of the study was to present the banking system and its supervision, and also study the impact of the crisis in Cyprus and Ireland. Furthermore, the objectives of the study were to present the risks of the banking system and to examine the spread of the crisis in the financial and banking sectors. In addition, the study aimed to present and examine the capital adequacy and competition in the banking sector. Yet another objective was to investigate the situation in the construction and tourism sectors and the cooperation of Cyprus with the state of Ireland. The reason for choosing this topic at the academic level is the author’s desire to study the banking sector, considering that the subject is interesting at the theoretical level, and even more since this topic is also considered to be quite timely given the current crisis of all countries. In recent years, there has been a great deal of turmoil as a result of the global financial crisis, which originally occurred in the United States with a focus on bank failures soon to be expanded to other states. The economic crisis spread directly to the developed countries and then globally, with very bad consequences for every company and bank. With regard to the International Monetary Fund, the crisis is spreading directly to the real economy, resulting in the recession and decline in employment.