The Banking Union
In June 2012, the EU leaders have agreed to undertake a big step forward in the deepening of the integration of the Union by creating a banking union. In spite of the huge ambition with which the EU leaders started back then, the construction is going on slowly and hesitantly and along the way some of the bolder ideas are dropping off. How did it all began and how is it moving forward you can follow in this special subject we have dedicated on the banking union.
Elke Koenig | © European CommissionBanking Resolution Is Now Available in Uncertain Legal Environment
The Bank Recovery and Resolution Directive (BRRD) is not yet fully transposed and the different legislation in member states pose a risk to the work of the second pillar of the banking union, which is in full operation since January 1st. Those are some of the problems, laid out by Single Re ...
| © European CommissionIdeological Clash in ECOFIN on the Deposit Insurance Scheme
A real verbal shootout exploded between the ECB and Germany on December 8th, when the Council of finance and economy ministers of the EU (ECOFIN) discussed for the first time the proposal of the European Commission regarding the third pillar of the banking union – the European De ...
| © European ParliamentBulgaria Cannot Participate in the 1st Pillar of the Banking Union Without Being Part of the Second
On 1 January 2015 has started functioning, although not at full steam, the second pillar of the banking union - the single resolution mechanism for failing banks. In November 2014, the European Central Bank (ECB) has assumed its new supervisory functions and as of the beginning of this year the ...
| © European CommissionJoining Banking Union Isn't a Panacea
After consultations with the parliamentary political parties, Bulgaria's President Rosen Plevneliev announced [in Bulgarian] a surprising piece of news, namely that a full consensus had been achieved an immediate procedure to be launched for Bulgaria's accession in the Single Supervisory Mechani ...
Elisa Ferreira | © European ParliamentFinally a Compromise about the Banking Union's 2nd Pillar which Finds EU Treaties Completely Exhausted
The good news with which the spring began in the European Union is that, finally, an agreement has been reached on the second pillar of the banking union - the single resolution mechanism (SRM) for failing banks - which is to undergo final approval by the European Parliament at its las ...
Mario Draghi, Pier Carlo Padoan | © Council of the EUWolfgang Schäuble: European Parliament's Peremptory Tone Is Unacceptable
"The Clock is ticking", wrote on March 10th Corien Wortmann-Kool, a member of the European Parliament from the EPP (The Netherlands) on Twitter on the occasion of the then upcoming new round of negotiations in the trilogue among the European Commission, the Parliament and the Council on the seco ...
Michel Barnier | © European ParliamentEP: The Resolution Mechanism Must Be Agreed by the End of the Parliament's Term
The February plenary session ended with a new clash between the Council and the Europarliament this week because, again, an agreement has not been reached in the trialogue on the second pillar of the banking union - the single resolution mechanism (SRM). The MEPs expected a significant movement ...
| © Council of the EUComplex, More Complex, SRM
If you think the European Union is a piece of cake and that it is not a sufficiently complex organism try the banking union. Or more precisely its second pillar which is the single resolution mechanism (SRM) for wounding up of ailing banks and which the EU finance ministers have finally reached ...
Elisa Ferreira | © European ParliamentThe Bank Resolution Mechanism Will Neither Be Good Nor Bad. It Will Be Timely
One thing is certain at this stage - the second leg of the banking union - the resolution mechanism for ailing banks will be built on time. It will probably neither be good nor pretty bad, but it will be very complex. With such expectations began the extraordinary meeting of the EU finance minis ...
Michel Barnier | © Council of the EUWill the Second Leg of the Banking Union Be Limping?
The current dilemma in the European Union is how to make an omelette without breaking the eggs. It is already turning into a tradition for difficult tasks to seek an intergovernmental solution. This is what happened with the fiscal compact. With the second pillar of the banking union a much ...
Warsaw | © euinsideMarketing Mistakes Were Made by Bulgaria and Poland in the Treatment of the Eurozone
There's predominantly negative discourse about the euro area. Constantly debated are the problems of Cyprus, Greece, Spain and Portugal. There is talk about all those unfavourable developments. But there is no talk that if Bulgaria and Poland were part of the area of single European currency the ...
Anders Borg, Wolfgang Schauble | © Council of the EUSRM Is Stuck Between Desire and Possibility
Everyone in the EU agree that an agreement on the second pillar of the banking union must be achieved by the end of the year, but they are aware of the many uncertainties the clarification of which is, on the one hand, dependent on the coalition negotiations in Germany and, on the other, on find ...
Joerg Asmussen | © Lithuanian PresidencyEuropean Parliament Got Huge Powers with the Supervisory Mechanism
It took precisely a year to make the biggest integrational step since the introduction of the euro - the single supervisory mechanism (SSM) for banks to be approved after a vote in the European Parliament during its September plenary session, thanks to the historical inter-institutional agreemen ...
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