Summary of The Contents and Timing of a European Banking Union

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Recommendation

H. Onno Ruding, the chairman of the Centre for European Policy Studies, examines the elements necessary to form a functioning European banking union (EBU) against the backdrop of the euro-zone crisis. Although Ruding supports his ideas with informed opinions rather than analytical data, getAbstract recommends this report to regulators, investors and financial services professionals who would have a stake in an EBU if it comes to be.

In this summary, you will learn

  • Why a European banking union is necessary,
  • What components such a union requires and
  • What issues Europe’s leaders need to address before establishing deeper banking integration.
 

About the Author

H. Onno Ruding is a former minister of finance for the Netherlands. He is chairman of the board of the Centre for European Policy Studies, a major independent European think tank.

 

Summary

In 2009, the European Union’s High Level Group on Financial Supervision created the first EU supranational policy on banking, which politicians ratified quickly. Until then, banking supervision in the EU had mainly been the responsibility of individual member states, with some “nonbinding agreements...

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