Link to the University of Pittsburgh
Link to the University Library SystemContact us link
AEI Banner

The fiscal implications of a banking union. Bruegel Policy Brief 2012/02, September 2012

Pisani-Ferry, Jean and Wolff, Guntram B. (2012) The fiscal implications of a banking union. Bruegel Policy Brief 2012/02, September 2012. [Policy Paper]

PDF - Published Version
Download (496Kb) | Preview


    Systemic banking crises are a threat to all countries whatever their development level. They can entail major fiscal costs that can undermine the sustainability of public finances. More than anywhere else, however, a number of euro-area countries have been affected by a lethal negative feedback loop between banking and sovereign risk, followed by disintegration of the financial system, real economic fragmentation and the exposure of the European Central Bank. Recognising the systemic dimension of the problem, the Euro-Area Summit of June 2012 called for the creation of a banking union with common supervision and the possibility for the European Stability Mechanism to recapitalise banks directly.

    Export/Citation:EndNote | BibTeX | Dublin Core | ASCII (Chicago style) | HTML Citation | OpenURL
    Social Networking:
    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 02 Oct 2012 13:22
    Number of Pages: 8
    Last Modified: 08 Feb 2018 19:43

    Actions (login required)

    View Item

    Document Downloads