The European Union assembled its High-Level Expert Group in February 2012 to study the European banking sector and to offer recommendations for reform. The final report of the Group, which was led by Erkki Liikanen, provides a comprehensive overview of the evolution of the economic crisis as it morphed from financial panic to deep recession. It also covers the crisis’s impact on European banks and economies. The Group suggests a number of measures policy makers should institute to reduce the probability of bank failures, including the suggestion that banks separate their risky financial trading from their deposit taking. Despite prose that is just as bureaucratic as you might expect, the report reveals an inner thought process sure to intrigue any informed observer and to be even more meaningful to those already parsing national, European and supranational regulatory issues. getAbstract recommends this pan-European report to bankers, policy makers and anyone invested in the future of EU banking.
In this summary, you will learn
- What five banking reforms the European Union’s High-Level Expert Group recommends,
- How the financial crisis evolved and affected the European banking sector, and
- How these measures contribute to a pan-European approach to reform.
About the Author
Erkki Liikanen, governor of the Bank of Finland and a former member of the European Commission, served as chairman of the High-Level Expert Group.