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Towards A European Banking Union: Risks And Challenges

Author

Listed:
  • Vasile COCRIS

    („Alexandru Ioan Cuza” University of Iasi, Faculty of Economics and Business Administration, Iasi, Romania)

  • Igor TURCANU

    (European Central Bank, Frankfurt, Germany)

  • Stanislav PERCIC

    („Alexandru Ioan Cuza” University of Iasi, Faculty of Economics and Business Administration, Iasi, Romania)

Abstract

Economic instability and financial turbulences in the European Union and especially in the Eurozone over the past years have given rise to calls for a real solution in order to solve the problems of the current crisis. In an integrated monetary area, economic and financial stability are issues relating to collective responsibility. That is why, when trying to deal with the latest challenges, the European Commission has proposed to establish a more unified banking supervision mechanism in the form of a banking union, which will fall under the auspices of the European Central Bank. Although the current banking union proposal seems to be a critical step towards solving the on-going crisis, there are many risks and challenges that the European Union has to deal with. This study aims at bringing together different views in order to highlight strengths and weaknesses of the future banking union. The body of this paper hosts a detailed description of the proposed European banking union, offering valuable insights, recommendations and some proposals for a way forward.

Suggested Citation

  • Vasile COCRIS & Igor TURCANU & Stanislav PERCIC, 2014. "Towards A European Banking Union: Risks And Challenges," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 14, pages 219-227, December.
    • Handle: RePEc:aic:revebs:y:2014:d:14:cocrisv
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    References listed on IDEAS

    as
    1. Jorge Sicilia & Santiago Fernandez de Lis & Ana Rubio, 2013. "Banking Union: integrating components and complementary measures," Working Papers 1328, BBVA Bank, Economic Research Department.
    2. Angel Ubide, 2013. "How to Form a More Perfect European Banking Union," Policy Briefs PB13-23, Peterson Institute for International Economics.
    3. Donato Masciandaro (ed.), 2005. "Handbook of Central Banking and Financial Authorities in Europe," Books, Edward Elgar Publishing, number 3387.
    4. Fritz Breuss, 2013. "European Banking Union," WIFO Working Papers 454, WIFO.
    5. Dirk Schoenmaker & Arjen Siegmann, 2013. "Efficiency Gains of a European Banking Union," Tinbergen Institute Discussion Papers 13-026/IV/DSF51, Tinbergen Institute.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    banking union; banking supervision mechanism; Eurozone; European Central Bank;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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