The banking union and the financial and banking system reform in EU

Alina Dumitrescu

Revista de Economie Mondiala / The Journal of Global Economics, 2013, vol. 5, issue 2

Abstract: Coordination among supervisors in financial and banking system is vital, but the financial crisis has shown that is not enough, and especially in the context of a single currency would require more common actions in EU. Therefore, the European Commission proposed “the creation of a banking union†, in order to place the banking sector on a more solid base and to restore confidence in the single currency, as part of a longer-term vision for the promotion of the economic and fiscal integration. Therefore, the new direction of the reform of the financial sector is "the creation of a banking union", that will help: to strengthen banks supervision, to ensure better deposits security, to recapitalize banks and last but not least to achieve the centralized management of the banking crises.

Keywords: reform; financial regulations; banking system; banking union (search for similar items in EconPapers)
JEL-codes: E5 E52 E58 G G2 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:iem:journl:v:5:y:2013:i:2:id:2822000008747051

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