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Designing a European restructuring mechanism without taxpayers’ money

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  • Armin Steinbach
  • Rainer Stollhoff

Abstract

The European Commission’s approach to the supervision and restructuring of the EU banking system has numerous shortcomings. As an alternative, this article proposes a European Resolution Authority and a European Restructuring Fund for systemically important banks and the implementation of a levy paid by banks in accordance with their systemic relevance. This levy should be designed to reduce the risk of future bailouts and the moral hazard inherent in implicit government guarantees. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2013

Suggested Citation

  • Armin Steinbach & Rainer Stollhoff, 2013. "Designing a European restructuring mechanism without taxpayers’ money," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 48(3), pages 167-173, May.
    • Handle: RePEc:spr:intere:v:48:y:2013:i:3:p:167-173
    DOI: 10.1007/s10272-013-0458-7
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