Europe's Single Supervisory Mechanism and the Long Journey Towards Banking Union
The establishment of the Single Supervisory Mechanism is only one step on a longer path towards European banking union, which itself cannot be considered in isolation from the challenges of fiscal union and political union. Losing the current momentum for the completion of this early step would be unfortunate, not only in itself but because it would reinforce the current doubts of the European public and global investors about the very ability of European leaders to make effective decisions. Recent statements issued by the 17 euro area countries contain a promise of supervisory integration and centralized bank crisis management. Europe’s leaders now need to deliver on this promise if they are to maintain, or regain, the trust of their constituents.
|Date of creation:||Dec 2012|
|Contact details of provider:|| Postal: 1750 Massachusetts Avenue, NW, Washington, DC 20036-1903|
Web page: http://www.piie.com
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Adam Posen & Nicolas Véron, 2009.
"A solution for Europe's banking problem,"
- Goodhart, Charles & Schoenmaker, Dirk, 1995. "Should the Functions of Monetary Policy and Banking Supervision Be Separated?," Oxford Economic Papers, Oxford University Press, vol. 47(4), pages 539-560, October.
When requesting a correction, please mention this item's handle: RePEc:iie:pbrief:pb12-24. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peterson Institute webmaster)
If references are entirely missing, you can add them using this form.