European Banking Union: Prospects and challenges / Edition 1

by Juan E. Castañeda, David G. Mayes, Geoffrey Wood

Overview

Recent failures and rescues of large banks have resulted in colossal costs to society. In wake of such turmoil a new banking union must enable better supervision, pre-emptive coordinated action and taxpayer protection. While these aims are meritorious they will be difficult to achieve. This book explores the potential of a new banking union in Europe.

This book brings together leading experts to analyse the challenges of banking in the European Union. While not all contributors agree, the constructive criticism provided in this book will help ensure that a new banking union will mature into a stable yet vibrant financial system that encourages the growth of economic activity and the efficient allocation of resources.

This book will be of use to researchers interested in Banking, Monetary Economics and the European Union.

Product Details

ISBN-13:	9781138906501
Publisher:	Taylor & Francis
Publication date:	11/24/2015
Series:	Routledge International Studies in Money and Banking
Pages:	246
Product dimensions:	6.12(w) x 9.19(h) x (d)

About the Author

Juan E. Castañeda is lecturer in economics, University of Buckingham and deputy director, Institute of International Monetary Research, UK.

David G. Mayes is professor of banking and financial institutions, chairman, Europe Institute and director, NZ Governance Centre, University of Auckland, New Zealand.

Geoffrey Wood is emeritus professor, University of Buckingham and Cass Business School,UK.

Table of Contents

1. Banking union in Europe 2. Banking union: the way forward 3. Plausible recovery and resolution plans for cross-border financial institutions 4. The Cyprus debacle: implications for the European banking union 5. Euro area bank resolution and bail-in – intervention, triggers and writedowns 6. Lender of last resort and banking union 7. Resolution planning and structural reform within the banking union 8. Shadows and mirrors: the role of debt in the developing resolution strategies in the US, UK and European Union 9. Resolution of failing banks in the European banking union: finishing the job or going back to the drawing board? 10. Monetary policy and long-term trends