European banking union

(2016) European banking union. In: New Palgrave dictionary of economics. Palgrave Macmillan, London, UK. ISBN 9781349951215

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Abstract

The sovereign crisis that has characterised the eurozone since 2010 has highlighted the potentially vicious circle between banks and sovereigns, adding an extra dimension to the 2007/08 financial crisis. This is why the EU heads of state and government committed to a European banking union in June 2012; a vision that was further developed in the European Commission’s blueprint. The aim of the banking union is to ensure that the financial institutions of the – for now – 19 member states will be subject to a single supervision, a single resolution and a common deposit insurance system. This article explains the background to these initiatives and weighs the progress towards their completion.

Item Type:	Book Section
Official URL:	https://link.springer.com/referencework/10.1057/97...
Additional Information:	© 2016 The Author(s)
Divisions:	European Institute
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HG Finance J Political Science > JN Political institutions (Europe)
Date Deposited:	22 May 2018 12:20
Last Modified:	11 Dec 2024 17:52
URI:	http://eprints.lse.ac.uk/id/eprint/88045

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