The euro crisis was, besides an economic and sovereign debt crisis, a full-blown banking crisis. The Banking Union was thus created precisely to break the vicious circle of ailing banks and weak government finances in the Eurozone. For the moment, it consists of a European banking supervision and a single resolution framework. But the project remains incomplete.
This briefing, written by Philipp Ständer, research fellow at the Jacques Delors Institute – Berlin, analyses further steps needed in order to complete the Banking Union and looks at how stable European banks are almost a decade after the crisis.
In the publication series “Europa briefing”, the Bertelsmann Stiftung and the Jacques Delors Institut – Berlin cover key topics of European politics and present possible scenarios: What is the problem? What might happen next? And what can politics do now? You will find all the publications from the joint project here: www.strengthentheeuro.eu