Banking Union: Quo Vadis
Faculty of Law, Economics and Finance and Faculty of Language and Literature, Humanities, Arts and Education
Monday, 3 October 2016 from 18:00 to 21:00 (CEST)
Yves Mersch, Member of the European Central Bank Executive Board
Jean-Victor Louis, Professor Emeritus, Université Libre de Bruxelles
Chair: Professor David Howarth, IPSE, Robert Schuman Institute.
In June 2012, Banking Union was proposed by euro area heads of state and government as an institutional mechanism to resolve the sovereign debt crisis. Progress on the construction of Banking Union has been rapid with the establishment of the Single Supervisory Mechanism in November 2014. The ECB has been assigned the power to supervise the euro area’s largest (approximately 130) banks. Banking Union also involves the creation of the Single Resolution Mechanism, with the gradual centralisation of approximately 50 billion euros worth of resolution funds; and a fiscal backstop, with the possible earmarking of European Stability Mechanism funds to support banks. Banking Union also involves the application of the EU single rule book on banking regulation, recent legislation on recovery and resolution, and a degree of harmonisation of national banking supervisory practices. Euro area member states have yet to agree upon the fourth main element of Banking Union — a European Deposit Insurance Scheme — largely due to German government opposition.
This Public Round Table involves the participation of both 'practioners' from the public and private spheres and academics. The event provides an opportunity to examine critically where we are today in the construction of Banking Union. The event also marks the recent publication of Professor Howarth’s book (with Professor Lucia Quaglia), The Political Economy of European Banking Union with Oxford University Press.
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