Towards the European Banking Union: Ins versus Outs
The Banking Union is going to change the structure and organization of banking and financial markets in Europe. It will also bring about noticeable changes in the interaction of these sectors with other parts of our economies, and thus their functioning. Most recent commentary has focussed on the direct, immediate impact of a new Single Supervisor setting up business. Whilst important, the long-run structural effects may in fact be more significant than so far realised.
Table of contents
- I. What is the Banking Union?
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II.
What are the main drivers of change?
- 1. An end to the industrial policy approach to national banking sectors
- 2. Shifting the costs of resolution
- 3. Costs of finance?
- 4. Structure of the banking sector?
- 5. Working on ONDs (Options and national discretions) and other aspects hindering a level playing field
- 6. Financial Stability and cross border cooperation
- III. Ins versus Outs