EIRP Proceedings, Vol 9 (2014)

Abstract

Banking Union is very important for financial stability of EU, for preventing any future crisis, for improving corporate governance in the banking sector, for completing the single market for financial services and for the strenghtening of monetary union, for opening the way to fiscal union and to political union. There is not enough theoretical research in the field of banking union, but there are many recent contributions on behalf of foreign and Romanian experts and analysts, which refer mainly to the three components/pillars of EU banking union:  a Single Supervision Mechanism (SSM), a Single Resolution Mechanism (SRM) and an harmonized system of deposit guarantee schemes. Some microstudies and surveys carried out by prestigious institutions, like Deutsche Bank, Brookings Institution, CEPS have been run over and analysed together with the positions and opinions of different European officials, and also with the content of EU secondary legislation. An empirical research was made with the aim to identify all essential aspects relating to EU banking union, which may concern the academics, researchers and business community. The paper is based on a previous research study coordinated by author and contains his own conclusions focused on the main arguments in favour of banking union.