A Realistic Bridge Towards European Banking Union
AbstractNew obstacles to the European banking union have emerged over the last year, but a successful transition is both necessary and possible. European leaders have to acknowledge a sequence of policy changes that must take place before the banking union can be completed. Specifically, in the second half of 2014, the European Central Bank (ECB) will gain supervisory authority over most of Europe’s banking system. This handover is the first of two milestones that will define the eventual success or failure of the banking union project. The second milestone will be a change in the European treaties that will establish the robust legal basis needed for a sustainable union. Together, these two milestones are a bridge that will allow Europe to cross the choppy waters that separate it from a sustainable policy framework.
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Bibliographic InfoPaper provided by Peterson Institute for International Economics in its series Policy Briefs with number PB13-17.
Date of creation: Jun 2013
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-07-15 (All new papers)
- NEP-CBA-2013-07-15 (Central Banking)
- NEP-EEC-2013-07-15 (European Economics)
- NEP-MON-2013-07-15 (Monetary Economics)
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- Adam Posen & Nicolas VÃ©ron, 2009.
"A solution for Europe's banking problem,"
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