Home > DocuBase > Article

« All DocuBase Articles

 

Follow DocuTicker on Twitter   Feed

Friday, 14th December 2012

European Banking Union: Key issues and challenges

Source: House of Lords European Union Committee (UK)

From Summary:

A European banking union is urgently required in order to restore credibility and stability to the euro area banking system, and to break the vicious cycle between banks and sovereign states. The UK has made clear that it will not participate in a banking union, although other non-euro Member States may well wish to do so. Nevertheless the consequences for this country could be momentous. There is a significant risk that the UK will be marginalised as banking union participants move towards closer integration. This in turn threatens to fracture the single market, as the authority of EU-27 bodies such as the European Banking Authority and the European Systemic Risk Board comes under threat. The Government’s assurances about the impact on the City of London may prove misplaced. The Government must do all in their power to ensure that London’s pre-eminence as a financial market is not imperilled and that the integrity of the single market is retained. UK isolation in debates of such fundamental importance would be disastrous.

The original banking union proposals set out a three-pronged approach: a Single Supervisory Mechanism, a common resolution mechanism and a common deposit insurance scheme. We regret that this coherent model has already been undermined by political pressure, led by Germany. Banking union requires all three of these elements if it is to be effective.

However we welcome the publication of the Single Supervisory Mechanism proposals as a significant first step towards banking union. We agree that the European Central Bank, to be given ultimate supervisory responsibility for every euro area bank, is the only organisation with the necessary credibility and authority to take on this role. But the concentration of so much power in one institution means that powerful safeguards must be put in place.

+ Direct link to document (PDF; 1.3 MB)


Category:

Source:

Views: 963


Having begun his career in academic libraries, Adrian Janes has subsequently worked extensively in public libraries, chiefly in enquiry work as an Information Services librarian. In this role he has had particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by FreePint in 2007, and has contributed articles to FreePint and ResourceShelf. He is involved in training in information literacy and the use of online reference resources.

A Contributing Editor to DocuTicker, he also write reviews for Pennyblackmusic.

Adrian can be reached at adrian.janes@freepint.com

More articles by Adrian Janes »



Please note: DocuTicker's editors collect citations for full-text PDF reports freely available on the web but we do not archive these reports. When you click a link to find and/or download the report, you are leaving the DocuTicker site. DocuTicker makes no representations regarding the ongoing availability of any report or any external resource. Links were accurate as of the date of posting.

« All DocuBase Articles

 

FreePint

FreePint supports the value of information in the enterprise. Read more »


FeedLatest FreePint Content:


  • Click to view the article Mini Review of RepRisk
    Friday, 28th November 2014

    Penny Crossland reviews RepRisk, a specialist ESG (Environmental, Social, Governance) tool to help companies manage reputational risk and facilitate corporate responsibility. It is aimed at enterprises wanting to finance or invest responsibly, manage and mitigate the ESG risks related to their clients, business transactions, suppliers and business partners, as well as monitor NGOs, ESG issues and their own reputation.

  • Click to view the article Q&A with Attensa - Tackling Critical Current Awareness Challenges
    Friday, 28th November 2014

    Shimrit Janes interviews Charlie Davidson, CEO of Attensa, to find out more about how their current awareness platform helps their customers, how he sees the field of current awareness evolving, and what Attensa is doing to respond to those changes.

  • Click to view the article Building a Better (Digital) Workplace
    Friday, 28th November 2014

    If there's something that I'm sure we can all agree on, it's that the world of work is changing very quickly and that as information professionals we need to be aware of these developments. Before we can take advantage of these developments and the opportunities the digital workplace presents, we need to look at overcoming some of the problems that we face in our existing workplaces.

  • ... more ...

All FreePint Content »
FreePint Topics »


A FreePint Subscription delivers articles and reports that support your organisation's information practice, content and strategy.

Find out more and order a FreePint Subscription by visiting the
completing our online form: Subscription Order page.


FreePint Testimonials

"I was very impressed with the quality of the Webinar. I attend a lot of professional webinars and this was one of the best. It was well ..."

Read more testimonials and supply yours »







 

 
 
 

Subscribe

Receive the DocuTicker Newsletter each week.

Find out more »

Article Categories

All Article Categories »

Sources

All DocuBase Sources »

Source Categories

All Source Categories »

Archive

All Archives »