Aidan Regan: European banking union yet another good idea that the EU has failed to sell

Ireland, and other countries with weaker domestic banking systems, have a strong incentive to push for such a union, but it will only happen if people realise what we could gain from it

20th June, 2021
Aidan Regan: European banking union yet another good idea that the EU has failed to sell
The European Central Bank in Frankfurt: Germany has been most reluctant to support a banking union. PIcture: Getty

The idea of a European banking union has deep roots. It first emerged in the 1970s, long before the Maastricht Treaty in the late 1990s which paved the way for the creation of the single currency.

Central to the idea is the need to create an EU-wide stabilisation mechanism to counteract, mitigate and share the risks of cross-border banking in the single market. While stability is important, it doesn’t exactly lend itself to a popular...

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