- Directors: José María Beneyto y Luis M. Hinojosa-Martínez
- Editorial: Wolters Kluwer
- Date: 2015
‘L’Europe se fera par la monnaie ou ne se fera pas’ [Europe will be made by currency or it will not be made], warned economist Jacques Rueff as long ago as 1949 – a prophetic remark that has become highly salient since the financial meltdown of 2008 severely threatened the European integration project. The depredations of the crisis quickly led to the development of the European Banking Union, with the goal of recapitalizing or otherwise resolving troubled banks in ways that minimize taxpayer cost and systemic risk. The bulk of the new institution, which contemplates a single supervisory system and a single recovery and resolution mechanism for troubled banks, is now established under European legislation.From a perspective both constructive and critical, this book provides a legal, economic, and political analysis of the European legislation enacted so far to implement the Banking Union. The twenty-one distinguished contributors include lawyers and economists, scholars and practitioners, European civil servants, think tank specialists, and private operators.
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