This lecture discusses the 2010 crisis of the European Monetary Union and draws some lessons for reform. Crisis resolution has been difficult because the sovereign debt crisis of countries like Greece and Portugal has come together with real-estate and banking crises in countries like Ireland...

Banking union in Europe / Juan Castañeda, David G. Mayes and Geoffrey Wood -- Banking union : the way forward / Thomas F. Huertas -- Plausible recovery and resolution plans for cross-border financial institutions / Giannoula Karamichailidou and David G. Mayes -- The cyprus debacle :...

1. Introduction -- 2. The research design -- 3. The making of the single market in financial services -- 4. Governing banking in the EU -- 5. Governing securities markets in the EU -- 6. Governing post-trading in the EU -- 7. An overall cross-sectoral assessment -- 8. The EU response to the...