We analyze the benefits and costs of a non-euro country opting-in to the banking union. The decision to opt-in depends …, non-euro countries participating in the banking union will not be on equal footing with euro area members. Analysis …-capitalized backstops is established it may be optimal for a non-euro country to join the banking union upon the euro adoption. Assessing …

We analyze the benefits and costs of a non-euro country opting-in to the banking union. The decision to opt-in depends …, non-euro countries participating in the banking union will not be on equal footing with euro area members. Analysis …-capitalized backstops is established it may be optimal for a non-euro country to join the banking union upon the euro adoption. Assessing …

threat of a disorderly default still looms over the eurozone, creating systemic financial instability at the EU and possibly …

The turmoil affecting southern euro area countries (notably Greece) has ushered in the second phase of the financial … of euro area countries in an orderly way …

supervisory powers for the largest euro area banks. We also illustrate how a gradual transition could align incentives and …

"This paper deals with potential instabilities in the Eurozone stemming from an insufficient interplay between monetary … policy and reform effort on the one hand and the emergence of intra-Euro area divergences on the other. As a first step, we … are now appearing within the Euro area which threaten its long-term cohesiveness. The most manifest example of this threat …