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Véron, Nicolas
19 October 2010

Nicolas Véron: "The European Union has not yet solved its banking problem"


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Véron argues that what is needed remains unchanged: a triage process that credibly identifies capital gaps among Europe’s most important financial institutions and leads to adequate recapitalisation and restructuring.


The US faces major economic and social challenges, but its financial crisis appears to have essentially ended more than a year ago. By contrast, the European Union collectively met the challenge with a succession of false hopes.
A solution to the EU’s banking problem would require a level of awareness and political commitment that has been sadly absent so far, especially in the largest euro area countries.


© Bruegel

Documents associated with this article

1010_The_European_Union_Has_Not_Yet_Solved_Its_Banking_Problem[1].pdf


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