The Banking Union and Financial Stability

Horst Tomann
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Horst Tomann: Freie Universitaet (FU) Berlin

Chapter 9 in Monetary Integration in Europe, 2017, pp 167-179 from Palgrave Macmillan

Abstract: Abstract The financial crisis has dramatically revealed the contagion effects resulting from the interconnectedness of financial institutions and the need for political action to re-establish financial stability. The problem is how to end the dysfunctional refinancing of banks and to revitalize the economic functions of the financial sector. The European Union responded to these problems by establishing a banking union. Chapter 9 presents the scope and structure of this new European institution and discusses the arguments brought forth in its favour. To begin with, the author briefly introduces the two main risks in the banking business, default risk and interest rate risk.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-3-319-59247-3_9

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DOI: 10.1007/978-3-319-59247-3_9

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