The banking regulatory framework adopted by the European Union is both stern and unidimensional. Proportionality in banking regulation and supervision is mainly a theoretical reference, with little or no practical implementation. On the face of it, the fundamental choice to apply the Basel...

In the wake of the global financial crisis, the economically weaker countries of the European Union that adopted the euro as a common currency soon started to feel the pressure of markets. In a monetary union, with one single central bank in charge of the monetary policy but without a common...

For hundreds of years, European states have waged war with one another. Only since the XIX century, more than 40 wars (including 3 global wars) have devastated the continent and decimated its population. The European Union has provided the longest period of peace and prosperity that the citizens...

The Eurozone official sector has declared that the belated restructuring of Greek bonds held by private sector creditors in 2012 was a “unique and exceptional” event, never, ever to be repeated in any other Eurozone country. Maybe so. But if this assurance proves in time to be as fragile as...