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Banking Union in Europe - Essay Example

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Banking union in the E.U (Europe union) is the exchange of obligation regarding managing an account strategy from the national to the EU level for nations within the European Union. It was started in 2012 (Zwass, 1979) as a reaction to the Eurozone emergency. The Eurozone…
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Download file to see previous pages The inspiration for a banking union was the delicacy of various banks in the Eurozone, and the distinguishing proof of endless loop between credit conditions for these banks and the sovereign credit of their individual home nations. In some countries the private debts that arose due property bubble were shifted to ascendant liability as an outcome of the banking systems bailout and government reactions to moderating economies post-bubble. It is due to the weakening of credit facilities at the time of the Eurozone crisis and fear of financial instability among the member states. This led to the need for interdependence between financial stability, banking policy and economic integration that saw the need to establish a banking union. Interestingly the banking sector of individual States faces the risk of likely marginalization as other countries in the union are trying to integrate
Additionally, the banking union in Europe is immediately needed to revive the stability and credibility of the banks system within the Euro area. There has been a continuous vicious cycle of the sovereign countries in Europe and the banks themselves. For example, some countries are unwilling to participate in the activities of the Banking Union, for instance, the UK. The sabotage by the UK has made some countries too to wish to exit the Union because of numerous challenges. The Europe’s financial banking sector has been going through times of polarised tensions
Starting 2014, the banking union primarily comprises of two primary activities, the Single Supervisory, and Resolution Mechanism, are based on the "single rulebook" ,or basic monetary administrative structure. The “single rulebook” comprises of an arrangement of authoritative writings that every single money related foundation (counting more or less 8300 banks) in the EU must agree to. These principles, ...Download file to see next pagesRead More
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