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.
Table of Contents
1. Banking union in Europe Juan Castañeda, David G. Mayes and Geoffrey Wood 2. Banking union: the way forward Thomas F. Huertas 3. Plausible recovery and resolution plans for cross-border financial institutions Giannoula Karamichailidou and David G. Mayes 4. The Cyprus debacle: implications for the European banking union Kate Phylaktis 5. Euro area bank resolution and bail-in – intervention, triggers and writedowns Thomas Conlon and John Cotter Comment Alessandro Roselli 6. Lender of last resort and banking union Rosa M. Lastra 7. Resolution planning and structural reform within the banking union Jens-Hinrich Binder 8. Shadows and mirrors: the role of debt in the developing resolution strategies in the US, UK and European Union Michael Krimminger 9. Resolution of failing banks in the European banking union: finishing the job or going back to the drawing board? Johan A Lybeck 10. Monetary policy and long-term trends Charles A.E. Goodhart and Philipp Erfurth
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.