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Three Reasons for the European Banking Union

In: The European Banking Union

Author

Listed:
  • Angelo Baglioni

    (Università Cattolica Sacro Cuore)

Abstract

This book starts by examining the reasons behind the introduction of the European banking union. This chapter documents the fiscal cost of the financial crisis that started in 2007, which has been the main driver, inducing the eurozone governments to assign the ECB the task of implementing tough and uniform standards of supervision. The declared target of the policymakers is to break the vicious circle between bank and sovereign risks; this two-way link emerges by looking at the market price of risk for the two sectors. Finally, the chapter shows the need for a supervisory convergence among the European countries and for a common framework for resolving distressed banks.

Suggested Citation

  • Angelo Baglioni, 2016. "Three Reasons for the European Banking Union," Palgrave Macmillan Studies in Banking and Financial Institutions, in: The European Banking Union, chapter 0, pages 7-29, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-56314-9_2
    DOI: 10.1057/978-1-137-56314-9_2
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