Merler, S., Wolff, G., (2014), “2014 Financial Odyssey: How should the first steps of the banking union be implemented”, Voxeu, January.
The European Banking Union matures in 2014, with the ECB assuming its role as single supervisor. This column outlines the transition to the new steady state. This will involve a comprehensive balance sheet assessment, new rules regarding recapitalisation, restructuring, and resolution, and the determination of how recapitalisation costs are distributed across taxpayers in different European nations.
Relevant Posts
- Masciandaro, D. and Passarelli, F., (2013), “Single supervision and resolution rules: Is ECB independence at risk?”, VoxEU, 21 December.
- Davies, H., (2013), “The Fox and the ECB”, Project Syndicate, 19 December.
- Micossi, S., Bruzzone, G. and Carmassi, J., (2013), “The New European Framework for Managing Bank Crises”, The Centre for European Policy Studies, CEPS Policy Brief No.304, 21 November.