The great financial crisis and the euro area crisis led to a substantial reform of financial safety nets across Europe and - critically - to the introduction of supranational elements. Specifically, a supranational supervisor was established for the euro area, with discrete arrangements for...

The European Union's banking union project started in mid-2012 in response to the euro-area crisis, with the goal of breaking the bank-sovereign vicious circle. The objective was also to restore private liability in banking and to move towards an integrated supranational market for banking...

The European Union's banking union project started in mid-2012 in response to the euro-area crisis, with the goal of breaking the bank-sovereign vicious circle. The objective was also to restore private liability in banking and to move towards an integrated supranational market for banking...

The great financial crisis and the euro area crisis led to a substantial reform of financial safety nets across Europe and - critically - to the introduction of supranational elements. Specifically, a supranational supervisor was established for the euro area, with discrete arrangements for...

Even though the roots of the global financial crisis lay in risky financial structures in the United States and weaknesses in financial regulation, the crisis became global mainly because of significant financial and trade linkages between the US and other countries. Most countries, including...

This paper discusses the creation of a European Banking Union. First, we discuss questions of design. We highlight seven fundamental choices that decision makers will need to make: Which EU countries should participate in the banking union? To which categories of banks should it apply? Which...