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Banking Union as a Shock Absorber: Lessons for the Eurozone from the US

by Daniel Gros and Ansgar Belke Centre for European Policy Studies
Pub Date:
Pbk 98 pages
AU$39.99 NZ$40.86
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This study investigates the shock-absorbing properties of a banking union. It makes a detailed comparison between the way in which banking unions have absorbed regional financial shock at the federal level in the USA, but have led to severe regional (national) financial dislocation and tensions in Europe, particularly within the Eurozone.

Foreword / Introduction / 1. The Macroeconomic stabilization properties of a banking union: Case studies / 2. Foreign-owned banks: A banking union sustitute? The EU experience / 3. Who pays for the shock absorbers? / 4. Fiscal union and financial shock absorbers / Conclusion

Daniel Gros is Director of the Centre for European Policy Studies, Brussels. Ansgar Belke is Associate Senior Research Fellow at CEPS and Ad personam Jean Monnet Professor of Macroeconomics and Director of the Institute of Business and Economic Studies (IBES) at the University of Duisburg-Essen.