Arturo Pallardó ’15 (Master in Economics) and Christopher Gandrud (Lecturer, City University London) have put together a summary of the European multilevel bank regulatory structure.
The health of the European banking system has come back into the media spotlight. The recent fall in bank shares; the creation of the Italian “bad bank”; and Britain’s demands to shield its banks from rules governing the euro region; suggest that the debate on the design and functioning of the European banking regulatory architecture will be on the table in the following months.
Given the complex and evolving nature of European banking regulation, there is much confusion about what has already been established and what plans are being discussed. We hope to clarify the current and proposed state of the European bank regulatory architecture. We differentiate which rules and institutions form the so-called “banking union” and which rules are part of the more general EU single market for financial services.
Economics alum Arturo Pallardó ’15 has created a new website to follow the evolution of the European banking union.
Arturo Pallardó (Master in Economics ’15) is the creator of the @bankingunion_eu Twitter account and has just launched a new website to follow the evolution of the European banking union. Here he tells Barcelona GSE Voice readers about the project:
As expressed by the European Central Bank, the construction of a banking union emerged from the financial crisis of 2008 and the subsequent sovereign debt crisis: “It became clear that, especially in a monetary union such as the euro area, problems caused by close links between public sector finances and the banking sector can easily spill over national borders and cause financial distress in other EU countries”.
However, this European project is still under construction. The ultimate goal of this www.bankingunion.eu website is to gather and structure banking union-related documents, from legislative acts to research papers, while fostering the debate on those issues that are unfinished.
Meanwhile, in the current beta version of the web the reader will find different interviews with academics, researchers and professionals discussing some of these banking union topics.