A Monetary Union requires a Banking Union

This paper argues that a monetary union requires a banking union. While the USA developed both during a time span of two centuries, the EMU was created in the course of two decades and remains unfinished as the economic pillar is largely missing. The financial crisis and the Eurocrisis have shown that a genuine banking union is even more needed for the Eurozone than a budget or a fiscal union to let the euro survive.

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Year of publication:	2014-06
Authors:	Geeroms, Hans ; Karbownik, Pawel
Institutions:	European Economic Studies, College of Europe
Subject:	banking Union \| ECB \| EMU \| monetary policy \| eurozone

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Extent:	application/pdf
Series:	Bruges European Economic Policy Briefings.
Type of publication:	Book / Working Paper
Notes:	Number 33 30 pages
Classification:	E10 - General Aggregative Models. General ; E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E44 - Financial Markets and the Macroeconomy ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination ; E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010884963