Building a European Banking Union: International Cooperation and Home Host Conflict

This chapter explores the perception of Lehman Brothers' failure internationally, the differences in regulations between the US and Europe, and the importance of early action by supervisors. It discusses the interconnectedness of finance and the change in opinions regarding bank bailouts. The chapter also delves into the need for international cooperation in banking union, the issue of home host conflict, and the birth and evolution of the Vienna Initiative.