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A realistic bridge towards European banking union

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  • Nicolas Véron

Abstract

New obstacles to the European banking union have emerged over the last year, but a successful transition remains both necessary and possible. The key next step will be in the second half of 2014, when the European Central Bank (ECB) will gain supervisory authority over most of Europe’s banking system. This needs to be preceded by a rigorous balance sheet assessment that is likely to trigger significant bank restructuring, for which preparation has barely started. It will be much more significant than current discussions about a bank resolution directive and bank recapitalisation by the European Stability Mechanism (ESM). The 2014 handover, and a subsequent change in the European treaties that will establish the robust legal basis needed for a sustainable banking union, together define the policy sequence as a bridge that can allow Europe to cross the choppy waters that separate it from a steady-state banking policy framework.

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  • Nicolas Véron, 2013. "A realistic bridge towards European banking union," Policy Contributions 783, Bruegel.
  • Handle: RePEc:bre:polcon:783
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    References listed on IDEAS

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    1. Nicolas Véron & Guntram B. Wolff, 2013. "From supervision to resolution: next steps on the road to European banking union," Policy Contributions 771, Bruegel.
    2. Jean Pisani-Ferry & André Sapir & Nicolas Véron & Guntram B. Wolff, 2012. "What kind of European banking union?," Policy Contributions 731, Bruegel.
    3. Adam Posen & Nicolas Véron, 2009. "A solution for Europe's banking problem," Policy Briefs 310, Bruegel.
    4. Alessandro Giustiniani & Wim Fonteyne & Wouter Bossu & Alessandro Gullo & Seán Kerr & Daniel C Hardy & Luis Cortavarria-Checkley, 2010. "Crisis Management and Resolution for a European Banking System," IMF Working Papers 10/62, International Monetary Fund.
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    1. repec:agr:journl:v:xxiv:y:2017:i:1(610):p:291-298 is not listed on IDEAS
    2. Michael Clauss, 2014. "The dynamics of European banking union: the process of its making and its role in future financial and economic integration," CESifo Forum, Ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(4), pages 68-76, January.
    3. Andrei HREBENCIUC, 2017. "Banking Union framework and the stability of the European Banking sector," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(1(610), S), pages 291-298, Spring.
    4. Daniele Schiliro, 2014. "Changes in Eurozone Governance after the Crisis and the Issue of Growth," International Journal of Social Science Studies, Redfame publishing, vol. 2(2), pages 110-119, April.

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