intensified cross-border banking. The share of the assets of national banking systems that come from other EU countries was rising … of banks in Banking Union come from other EU countries, while about a quarter of the assets of the top 25 banks in the … Banking Union are held in other EU countries. While a crisis-prevention framework for the euro area has largely been completed …

markets. However, the policy framework proved inadequate in the context of the major financial crisis in the EU starting in … structural institutional change for the EU, arguably the most significant since the introduction of the euro. Even in its current …