Merter, S. (2014), “Banking Union and Beyond: Discussion papers for Brussels Think Tank Dialogue”, Bruegel, 28 January.
Three years have passed since the euro crisis broke out in 2010, revealing the shortcomings of the EMU architecture as it was foreseen in Maastricht. A number of reforms have been undertaken since 2010 in order to strengthen the Monetary Union, make it more adept to face the challenges of the financial integration that the euro itself created and ensure a stronger resilience to financial crises in the future. To this end, the EMU framework has been strengthened on the side of financial supervision, fiscal discipline and macroeconomic surveillance. Among the various reforms, the agreement to create a Banking Union is certainly a major one and represents probably the most important step towards integration to date. But is it enough? The economic session of the BTTD 2014 will review the progress on banking union so far and ask what else is missing in the EMU architecture to complement and enhance the reforms on the financial side.
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.