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Is Europe ready for a major banking crisis?

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  • Nicolas Véron

Abstract

Nicolas Véron argues that Europe's arrangements for financial stability have been rendered inadequate by the emergence of pan-European banks', whose activities span several EU countries. In the event of failure of a pan-European bank, voluntary coordination between national authorities would be unlikely to lead to decisions that best serve Europeans' collective interest. The policy brief suggests a two-tier framework in which the challenges posed by pan-European banks are addressed with EU-level prudential arrangements and institutions, while most banks remain covered by the current national supervisory systems.

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  • Nicolas Véron, 2007. "Is Europe ready for a major banking crisis?," Policy Briefs 244, Bruegel.
    • Handle: RePEc:bre:polbrf:244
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