The SAFE Policy Center organizes and cordially invites you to attend a policy debate on
Europe’s banking union at ten: unfinished yet transformative
Nicolas Véron (Bruegel and Peterson Institute)
Introduction: Florian Heider (Leibniz Institute SAFE, CEPR and Goethe University)
Discussant: Elke König (Leibniz Institute SAFE)
Moderation: Jan Pieter Krahnen (Leibniz Institute SAFE and CEPR)
30 September, 5:00 p.m.- 6:00 p.m., House of Finance, Campus Westend
Europe’s banking union, the project to pool responsibility for prudential policy at European Union level, became a reality in 2014 with the empowerment of the European Central Bank as banking supervisor. Ten years on, the project remains unfinished, as European countries can still leverage their domestic banking sectors to serve their special interests and the intervention framework for banking crises continues to be an awkward mix of national and EU authorities and instruments. But the achievements of even this incomplete banking union have been impressive. The decision on ECB banking supervision, made in mid-2012, was crucial for the eventual resolution of the euro-area crisis. The subsequent decade of supervisory practice appears to have been successful, meeting its objectives of banking-system safety and soundness.
In his new book, Nicolas Véron offers the first comprehensive exploration of the genesis, implementation and possible future completion of this major policy endeavour.
Nicolas Véron cofounded Bruegel in Brussels in 2002-05, joined the Peterson Institute for International Economics in Washington DC in 2009, and is currently employed on similar terms by both organizations as a Senior Fellow. His research is primarily about financial systems and financial services policies, with a main geographical focus on Europe. He is also an independent board member of the global derivatives trade repository arm of DTCC, a financial infrastructure company that operates on a non-profit basis. In September 2012, Bloomberg Markets included Véron in its yearly global “50 Most Influential” list with reference to his early advocacy of European banking union.
