
New Books in Economics
Nicolas Véron, "Europe's Banking Union at Ten: Unfinished Yet Transformative" (Bruegel, 2024)
Jun 28, 2024
Nicolas Véron, European banking expert, discusses Europe's Banking Union's ten-year journey, highlighting its transformative yet incomplete nature. The podcast explores the challenges of separating banks from sovereigns, the political dynamics in the European banking sector, the significance of the 2012 political agreement, and the ongoing progress and challenges in the banking union. Véron also recommends two intriguing books on central banking history and French political reflections.
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Quick takeaways
- Europe's Banking Union aims to break the harmful link between banks and government solvency.
- Nicolas Veron highlights that despite being a decade old, the banking union remains fragile and incomplete.
Deep dives
Creation of the European Banking Union
In 2012, European leaders established the banking union to break the harmful link between banks and government solvency, preventing the collapse of their currency union. Initiated as a crisis response, the banking union aimed to enhance European integration. However, Nicolas Veron highlights that the union, despite its creation a decade ago, remains fragile and incomplete.
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