Jump to Content Jump to Main Navigation
International Financial and Monetary Law, 2nd Edition by Lastra, Rosa (22nd January 2015)

Part II Developments at the EU Level, 10 Banking Union

Rosa María Lastra

From: International Financial and Monetary Law (2nd Edition)

Rosa Lastra

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2015. All Rights Reserved.date: 27 May 2020

Deposit protection schemes — International financial system — Monetary system — Monetary obligations — European Central Bank
10.01 Banking union is the most important development in the EU since the launch of the euro. In 1999, Tommaso Padoa-Schioppa famously pointed out that the abandonment of the coincidence between the area of jurisdiction of monetary policy and the area of jurisdiction of banking supervision was a major novelty brought about by the advent of the economic and monetary union (EMU).1 This has now been reversed. Banking union signifies a further transfer of sovereign powers from the national to the supranational arena. 10.02 Banking union is based upon three pillars....
Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.