Examines efforts to strengthen Economic and Monetary Union in the European Union, especially over the last decade. It also reviews the wide-ranging reforms undertaken since the crises of the early 2010s and assesses whether they go far enough.

The current financial crisis has sparked intense debate about how weak banks should be resolved. Despite international efforts to coordinate and converge on such policies, national policy advice and resolution practices differ. The resolution methods adopted in the Nordic banking crises in the...