IDEAS home Printed from https://ideas.repec.org/a/psl/moneta/201342.html
   My bibliography  Save this article

L'Unione Bancaria Europea. Di nuovo un disegno istituzionale incompleto (The European banking union. An incomplete institutional design, again)

Author

Listed:
  • Mario Tonveronachi

    (Università degli Studi di Siena)

Abstract

The proposal for a European banking union represents the more recent effort to drive the Eurozone countries towards the effective adoption of a single rulebook and a single supervisory handbook, at the same time endowing them with a centralised mechanism for the resolution of bank crises. The new institutional framework should help to disconnect banking operations from the vicissitudes of sovereign debts, to reverse the recent re-nationalisation of finance and to restore the effectiveness of ECB monetary policy. Although the new framework would mark a significant advancement with respect to the present situation, its predictable incomplete adoption, restricted to the single supervisory mechanism, coupled with the unwillingness to burden it with legacy problems, will most likely produce opposite results from its inception. Although the full implementation of the proposal would not constitute a departure from the political de-centralised design that has so far dominated the European construction, the potential fiscal implications of a centralised resolution mechanism have raised the same barriers that have so far impeded to complete the design initiated with the Maastricht Treaty.

Suggested Citation

  • Mario Tonveronachi, 2013. "L'Unione Bancaria Europea. Di nuovo un disegno istituzionale incompleto (The European banking union. An incomplete institutional design, again)," Moneta e Credito, Economia civile, vol. 66(264), pages 397-413.
  • Handle: RePEc:psl:moneta:2013:42
    as

    Download full text from publisher

    File URL: http://ojs.uniroma1.it/index.php/monetaecredito/article/view/11362/pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ben S. Bernanke, 2013. "Stress Testing Banks: What Have We Learned? : a speech at the \"Maintaining Financial Stability: Holding a Tiger by the Tail\" financial markets conference sponsored by the Federal Reserve B," Speech 624, Board of Governors of the Federal Reserve System (U.S.).
    2. Mario Tonveronachi & Elisabetta Montanaro, 2012. "Financial re-regulation at a crossroads: How the European experience strengthens the case for a radical reform built on Minsky's approach," PSL Quarterly Review, Economia civile, vol. 65(263), pages 335-383.
    3. Mario Sarcinelli, 2012. "Come difendere la globalizzazione e salvaguardare i sistemi bancari dal contagio," Moneta e Credito, Economia civile, vol. 65(257), pages 9-47.
    4. Elisabetta Montanaro, 2013. "Regole di Basilea e modelli di vigilanza: quale convergenza? (Basel rules and supervisory models: What convergence?)," Moneta e Credito, Economia civile, vol. 66(264), pages 415-442.
    5. Alessandro Roncaglia, 2013. "Le politiche di austerita' sono sbagliate," Moneta e Credito, Economia civile, vol. 66(262), pages 121-128.
    6. Mario Sarcinelli, 2013. "The European Banking Union: Will It Be a True Union without Risk Sharing?," PSL Quarterly Review, Economia civile, vol. 66(265), pages 137-167.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Carlo D'Ippoliti, 2013. "Introduzione: L'Unione Europea e' "mammona" (Introduction: A Pansy European Union)," Moneta e Credito, Economia civile, vol. 66(264), pages 377-395.
    2. Rainer Masera, 2013. "US Basel III Final Rule on banks' capital requirements: A different-size-fits-all approach," PSL Quarterly Review, Economia civile, vol. 66(267), pages 387-402.
    3. Acharya, Viral V. & Berger, Allen N. & Roman, Raluca A., 2018. "Lending implications of U.S. bank stress tests: Costs or benefits?," Journal of Financial Intermediation, Elsevier, vol. 34(C), pages 58-90.
    4. Xi Yang & Michael Brei, 2019. "The universal bank model: Synergy or vulnerability?," Journal of Banking Regulation, Palgrave Macmillan, vol. 20(4), pages 312-327, December.
    5. Alessandro Roncaglia, 2013. "Introduction," PSL Quarterly Review, Economia civile, vol. 66(267), pages 369-370.
    6. Mario Tonveronachi, 2013. "De-globalising bank regulation," PSL Quarterly Review, Economia civile, vol. 66(267), pages 371-385.
    7. Elisabetta Montanaro, 2013. "Regole di Basilea e modelli di vigilanza: quale convergenza? (Basel rules and supervisory models: What convergence?)," Moneta e Credito, Economia civile, vol. 66(264), pages 415-442.
    8. Jerome H. Powell, 2018. "Financial Stability and Central Bank Transparency : a speech at \"350 years of Central Banking: The Past, the Present and the Future,\" A Sveriges Riksbank anniversary conference sponsored b," Speech 1004, Board of Governors of the Federal Reserve System (U.S.).
    9. Alessandro Roncaglia, 2013. "Hyman Minsky's monetary production economy," PSL Quarterly Review, Economia civile, vol. 66(265), pages 77-94.
    10. Mario Sarcinelli, 2013. "L'unione bancaria europea e la stabilizzazione dell'Eurozona," Moneta e Credito, Economia civile, vol. 66(261), pages 7-42.
    11. Botti, Fabrizio & D’Ippoliti, Carlo, 2014. "Don’t ask don’t tell (that you’re poor). Sexual orientation and social exclusion in Italy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 49(C), pages 8-25.
    12. Alessandro Roncaglia, 2013. "Il ruolo delle istituzioni nellÕeconomia: introduzione," Moneta e Credito, Economia civile, vol. 66(261), pages 1-4.
    13. Mario Sarcinelli, 2013. "The European Banking Union: Will It Be a True Union without Risk Sharing?," PSL Quarterly Review, Economia civile, vol. 66(265), pages 137-167.
    14. Bertrand Candelon & Mr. Amadou N Sy, 2015. "How Did Markets React to Stress Tests?," IMF Working Papers 2015/075, International Monetary Fund.
    15. Carlo D'Ippoliti, 2014. "Introduction: welcoming a new editorial board," PSL Quarterly Review, Economia civile, vol. 67(268), pages 3-8.

    More about this item

    Keywords

    European Union; banking union; financial regulation;
    All these keywords.

    JEL classification:

    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:psl:moneta:2013:42. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Carlo D'Ippoliti (email available below). General contact details of provider: http://www.economiacivile.it .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.