The challenges of Europe's fourfold union

Bericht

Five years after the first tremors in Europe's banking system, what makes the crisis unique is the absence of a democratically accountable decision-making framework; there is an 'executive deficit' that compounds Europe's democratic deficit. The author argues that the only way to resolve the crisis successfully is a sustained effort to achieve a 'fourfold union' agenda: banking union, fiscal union, competitiveness union and political union. Progress must be made in parallel on each of the four components. In particular, successful progress towards banking union requires a combination of short term action, including the establishment of a temporary resolution authority to identify undercapitalised banks and to restructure them, and longer-term measures, including the creation of permanent authorities for supervision, resolution and deposit insurance.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Bruegel Policy Contribution ; No. 2012/13

Klassifikation und Themen

• Klassifikation: Wirtschaft
• Thema: Europäische Wirtschafts- und Währungsunion ; Politische Entscheidung ; Finanzpolitik ; Internationaler Wettbewerb ; Bankenpolitik ; Bankenaufsicht ; EU-Staaten

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Véron, Nicolas
• Ereignis: Veröffentlichung
• (wer): Bruegel
• (wo): Brussels
• (wann): 2012

Weitere Informationen

• Handle: http://hdl.handle.net/10419/72117
• Letzte Aktualisierung: 10.03.2025, 11:46 MEZ