Banking Union in the Eurozone and the European Union

The opportunities for institutional advancement in the EU created by the dismal management of the Eurozone crisis may well include the establishment of a banking union. The debate on this topic, however, seems mired in confusion, notably as regards the features and tasks of deposit insurance at the Eurozone or EU level in combating contagion and restoring financial stability. It also seems at times to overlook the fact that many constituent elements of banking union are already present in the legislation in force or tabled for approval and, more importantly, that much of what is needed may be feasible with ordinary legislative procedures.

Download: