The second half of 2012 was dominated by debates surrounding the construction of an EU banking union. In June, the European Council and eurozone summit agreed to deepen meconomic and monetary union (EMU) creating ‘banking union’, which was to be based on five components: a single rulebook; a single framework for banking supervision; a common deposit guarantee scheme; a single framework for the managed resolution of banks and financial institutions; and a common backstop for temporary financial support. Indeed, the verb officially – and hyperbolically – used was to ‘complete’EMU, suggesting that these elements – rarely discussed in European policy-making circles prior to 2012 – were the sine qua non of ‘full’ EMU. This article discusses the construction of Banking Union.
‘Banking Union as Holy Grail: Rebuilding the Single Market in Financial Services, Stabilizing Europe’s Banks and “Completing” Economic and Monetary Union / Quaglia L; Howarth D. - In: JOURNAL OF COMMON MARKET STUDIES. - ISSN 0021-9886. - STAMPA. - 49:(2013), pp. 119-141.
‘Banking Union as Holy Grail: Rebuilding the Single Market in Financial Services, Stabilizing Europe’s Banks and “Completing” Economic and Monetary Union
QUAGLIA, LUCIA;
2013
Abstract
The second half of 2012 was dominated by debates surrounding the construction of an EU banking union. In June, the European Council and eurozone summit agreed to deepen meconomic and monetary union (EMU) creating ‘banking union’, which was to be based on five components: a single rulebook; a single framework for banking supervision; a common deposit guarantee scheme; a single framework for the managed resolution of banks and financial institutions; and a common backstop for temporary financial support. Indeed, the verb officially – and hyperbolically – used was to ‘complete’EMU, suggesting that these elements – rarely discussed in European policy-making circles prior to 2012 – were the sine qua non of ‘full’ EMU. This article discusses the construction of Banking Union.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
