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A Realistic Bridge Towards European Banking Union

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  • Nicolas Veron

    (Peterson Institute for International Economics)

Abstract

New obstacles to the European banking union have emerged over the last year, but a successful transition is both necessary and possible. European leaders have to acknowledge a sequence of policy changes that must take place before the banking union can be completed. Specifically, in the second half of 2014, the European Central Bank (ECB) will gain supervisory authority over most of Europe's banking system. This handover is the first of two milestones that will define the eventual success or failure of the banking union project. The second milestone will be a change in the European treaties that will establish the robust legal basis needed for a sustainable union. Together, these two milestones are a bridge that will allow Europe to cross the choppy waters that separate it from a sustainable policy framework.

Suggested Citation

  • Nicolas Veron, 2013. "A Realistic Bridge Towards European Banking Union," Policy Briefs PB13-17, Peterson Institute for International Economics.
    • Handle: RePEc:iie:pbrief:pb13-17
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    References listed on IDEAS

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    1. Zsolt Darvas, 2014. "Can Europe recover without credit?," Society and Economy, Akadémiai Kiadó, Hungary, vol. 36(2), pages 129-149, June.
    2. Mr. Martin Cihak & Mr. Jörg Decressin, 2007. "The Case for a European Banking Charter," IMF Working Papers 2007/173, International Monetary Fund.
    3. Adam S. Posen & Nicolas Veron, 2009. "A Solution for Europe's Banking Problem," Policy Briefs PB09-13, Peterson Institute for International Economics.
    4. Nicolas Veron & Guntram B. Wolff, 2013. "From Supervision to Resolution: Next Steps on the Road to European Banking Union," Policy Briefs PB13-5, Peterson Institute for International Economics.
    5. Rishi Goyal & Ms. Petya Koeva Brooks & Mahmood Pradhan & Mr. Thierry Tressel & Mr. Giovanni Dell'Ariccia & Ceyla Pazarbasioglu, 2013. "A Banking Union for the Euro Area," IMF Staff Discussion Notes 2013/001, International Monetary Fund.
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    7. Nicolas Véron & Morris Goldstein, 2011. "Too big to fail- the transatlantic debate," Working Papers 495, Bruegel.
    8. Oya Celasun & Geoffrey N. Keim, 2010. "The Us Federal Debt Outlook: Reading the Tea Leaves," IMF Working Papers 2010/062, International Monetary Fund.
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    Cited by:

    1. 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.
    2. Kühl, Carl & Bourlakis, Michael & Aktas, Emel & Skipworth, Heather, 2022. "Product-service systems and circular supply chain practices in UK SMEs: The moderating effect of internal environmental orientation," Journal of Business Research, Elsevier, vol. 146(C), pages 155-165.
    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 / Editura Economica, vol. 0(1(610), S), pages 291-298, Spring.
    4. Steven Rosefielde & Yiyi Liu, 2018. "Local Public Debt Management: Lessons From Greece In Inclusive Economic Perspective," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 63(04), pages 967-980, September.
    5. 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.
    6. 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.

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