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The neglected side of banking union- reshaping Europe’s financial system

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  • André Sapir
  • Guntram B. Wolff

Abstract

This policy contribution was presented at the informal ECOFIN in Vilnius on September 14. It discusses how Europe's financial system could and should be reshaped. It starts from two basic points- First, the banking system needs to be credibly de-linked from the sovereigns and banks should operate across borders. Europe needs fewer national champions. Second, other forms of financial intermediation need to be developed. Both steps require a significant stepping...

Suggested Citation

  • André Sapir & Guntram B. Wolff, 2013. "The neglected side of banking union- reshaping Europe’s financial system," Policy Contributions 792, Bruegel.
    • Handle: RePEc:bre:polcon:792
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    Citations

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    Cited by:

    1. Anderson, Nicola & Brooke, Martin & Hume, Michael & Kürtösiová, Miriam, 2015. "Financial Stability Paper 33: A European Capital Markets Union: implications for growth and stability," Bank of England Financial Stability Papers 33, Bank of England.
    2. Christopher Gandrud & Mark Hallerberg, 2014. "Bad banks in the EU- the impact of Eurostat rules," Working Papers 864, Bruegel.
    3. Fecht, Falko & Inderst, Roman & Pfeil, Sebastian, 2015. "A theory of the boundaries of banks with implications for financial integration and regulation," IMFS Working Paper Series 87, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    4. Hans Geeroms & Pawel Karbownik, 2014. "A Monetary Union requires a Banking Union," Bruges European Economic Policy Briefings 33, European Economic Studies Department, College of Europe.
    5. André Sapir & Nicolas Véron & Guntram B. Wolff, 2018. "Making a reality of Europe’s Capital Markets Union," Policy Contributions 25326, Bruegel.
    6. Maylis Avaro & Henri Sterdyniak, 2014. "Banking union: a solution to the euro zone crisis?," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 193-241.
    7. repec:hal:spmain:info:hdl:2441/144pedpca18ff8v7fh3tvnp99m is not listed on IDEAS
    8. Maria Demertzis & Silvia Merler & Guntram B Wolff, 2018. "Capital Markets Union and the Fintech Opportunity," Journal of Financial Regulation, Oxford University Press, vol. 4(1), pages 157-165.
    9. Christopher Gandrud & Mark Hallerberg, 2015. "Does Banking Union Worsen the EU's Democratic Deficit? The Need for Greater Supervisory Data Transparency," Journal of Common Market Studies, Wiley Blackwell, vol. 53(4), pages 769-785, July.
    10. Michal Jurek, 2014. "Role and impact of different types of financial institutions on economic performance and stability of the real sector in selected EU member states," Working papers wpaper36, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    11. Jacques Pelkmans, 2014. "Designing a Genuine EMU: Which “Unions” for EU and Eurozone?," Bruges European Economic Policy Briefings 34, European Economic Studies Department, College of Europe.
    12. P. Butzen & S. Cheliout & H. Geeroms, 2014. "Lessons from the US for the institutional design of EMU," Economic Review, National Bank of Belgium, issue ii, pages 82-101, September.
    13. repec:hal:spmain:info:hdl:2441/f6h8764enu2lskk9p4srjesb4 is not listed on IDEAS

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