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Banking Union in the EU – Essence, Reasons for Establishment, Pillars, Effects and Challenges

Author

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  • Pavel Tabakov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The study examines the origination of the economic integration in Europe and the path towards the establishment of an Economic and Monetary Union. The reasons for the establishment of the Banking Union, its nature and structure are explored through applying the system analysis. The main pillars of the Banking Union, their degree of completion, the bodies responsible for the performance of their main functions and the effects sought from their functioning are presented. The main challenges facing the Banking Union, the priority areas for development and the expected benefits of completing its main elements with a view to achieving a stronger Economic and Monetary Union in Europe are outlined.

Suggested Citation

  • Pavel Tabakov, 2023. "Banking Union in the EU – Essence, Reasons for Establishment, Pillars, Effects and Challenges," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 207-234, August.
    • Handle: RePEc:nwe:natrud:y:2023:i:3:p:207-234
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    More about this item

    Keywords

    banking; European; mechanism; supervisory; rulebook; scheme; union;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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