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Breaking the Stalemate on European Deposit Insurance

Isabel Schnabel, Nicolas Veron, (2018), «Breaking the Stalemate on European Deposit Insurance», Bruegel, 5 Μαρτίου

In the wake of the European financial and sovereign debt crisis, the euro area embarked in 2012 on establishing a banking union. Its aim was to elevate parts of banking sector policy from the national to the European level, particularly bank supervision and resolution. Successive EU-level reports, including the Four Presidents’ Report of 2012 and the Five Presidents’ Report of 2015, have highlighted a European Deposit Insurance Scheme (EDIS) as a necessary component of banking union. In 2015, the European Commission published a legislative proposal(hereinafter EC 2015) to set up a fully integrated, country-blind deposit insurance system by 2024.

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