The Banking Union
Will EU Miss the Window of Opportunity to Deepen the EMU? In 2017, for the first time in five years, a rare opportunity opened to upgrade the euro area. With the election of Emmanuel Macron, UK's leaving and the good economic and fiscal conditions the reformist atmosphere of 2012 has returned. Back then a decision was taken to build a banking union. Fi ...
Brexit Awoke an Echo of the Euro Area Crisis In the first days following the June 23 referendum in Great Britain, in which voters decided that their country should leave the European Union, economic data showed the presence of a far stronger economic shock for the United Kingdom, than for the EU. A month after the publishing of t ...
A Rise of Anti-Disintegration Moods in EU The week (February 8-12) got to a running start with anti-disintegration actions. As early as the evening before the start of the work week (Sunday) the leaders of Germany and France met informally in Strasbourg to discuss the future of the EU, whose survival is under threat. This set the tone f ...
Ideological Clash in ECOFIN on the Deposit Insurance Scheme A real verbal shootout exploded between the ECB and Germany on December 8th, when the Council of finance and economy ministers of the EU (ECOFIN) discussed for the first time the proposal of the European Commission regarding the third pillar of the banking union – the European De ...
Joining Banking Union Isn't a Panacea After consultations with the parliamentary political parties, Bulgaria's President Rosen Plevneliev announced [in Bulgarian] a surprising piece of news, namely that a full consensus had been achieved an immediate procedure to be launched for Bulgaria's accession in the Single Supervisory Mechani ...
ESM To Transform into a European Monetary Fund This year is on its way to repeat the ambition of 2012 when the construction of the banking union started and when the permanent rescue fund of the euro area was created. That was the year when a big step in the euro area integration was made and in the EU at large. After a five-year deadlock in ...
Draghi: An Unclear Agreement with UK Could Have Systemic Consequences Three main subjects dominated the regular hearing of European Central Bank President Mario Draghi in the European Parliament's economic committee - the negotiations with Great Britain, the latest offensive of Italian Prime Minister Matteo Renzi aiming at eliciting more concessions fro ...
Banking Resolution Is Now Available in Uncertain Legal Environment The Bank Recovery and Resolution Directive (BRRD) is not yet fully transposed and the different legislation in member states pose a risk to the work of the second pillar of the banking union, which is in full operation since January 1st. Those are some of the problems, laid out by Single Re ...
Bulgaria Cannot Participate in the 1st Pillar of the Banking Union Without Being Part of the Second On 1 January 2015 has started functioning, although not at full steam, the second pillar of the banking union - the single resolution mechanism for failing banks. In November 2014, the European Central Bank (ECB) has assumed its new supervisory functions and as of the beginning of this year the ...
Finally a Compromise about the Banking Union's 2nd Pillar which Finds EU Treaties Completely Exhausted The good news with which the spring began in the European Union is that, finally, an agreement has been reached on the second pillar of the banking union - the single resolution mechanism (SRM) for failing banks - which is to undergo final approval by the European Parliament at its las ...
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