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Published in:
2019 | OriginalPaper | Chapter
10. The Problems of the European Banking Union
Author : Aristóbulo de Juan
Published in: From Good to Bad Bankers
Publisher: Springer International Publishing
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Abstract
The Banking Union is a major step towards strengthening the European Union. Though a single-deposit guarantee scheme has yet to be established, the Single Supervisory Mechanism (SSM) and Single Resolution Mechanism (SRM) are already in place. However, it would be foolish to sit back now and expect the new institutions to provide immediate solutions. They will not. Not in the Eurozone and not in Spain. They will take years to find their feet, in the first place making different regulatory systems converge is a difficult and a slow process and, in the second, because they have been set up even while the aftershocks of the financial crisis rumble on.