SAFE-CEPR Policy Web Seminar: Beyond the Pandemic: Reviving Europe's Banking Union
Ignazio Angeloni (Harvard Kennedy School, SAFE and former member of the board of supervision, ECB)
Elga Bartsch (BlackRock)
Mathias Dewatripont (ECARES, Université Libre de Bruxelles and CEPR)
Jan Pieter Krahnen (SAFE, Goethe University and CEPR)
Moderator: Tim Phillips (CEPR)
This online seminar discusses a new book written by Ignazio Angeloni, which reviews how the banking union has functioned since its creation in 2014 and discusses changes which may help improve its performance. The current health crisis and the ensuing global recession are producing unprecedented (in peacetime at least) policy responses in all fields, including banking regulation and supervision. While this will greatly affect the European banking industry and its regulatory environment, the reasons why the banking union needs reform may not be fundamentally altered by the current predicament.
Most agree that the banking union today is "incomplete", but opinions differ on the specifics. As the emergency subsides, the need to complete the banking union and improve its functioning will not go away, and may turn out to be more urgent.