Conference Specifics
ISBN:  978-0-9860419-7-6
Conf. Updates










 
29th IBIMA Conference
Vienna, Austria
3 - 4 May 2017 


   




             

Mincu-Rădulescu George Ioan, Glăvan Ionela-Roxana and Andrei Tudorel,

   

       

                                                                                                                                                                           

Almost two decades after its birth, the monetary union is passing through challenging times. The euro, which was long seen as a symbol of successful financial integration is currently under pressure as Greece situation remains uncertain, Great Britain is negotiating its withdrawal from the EU, economic nationalism and protectionism are gaining ground, while the economic rebound in euro zone is still fragile. This delicate context brings into spotlight the need for a rethinking and reshaping of the euro area architecture, meant to foster market discipline, deepen fiscal/financial integration and improve shock absorption capacity. In this paper we focus on the banking union as a key element in averting future crisis, promising to deliver a safe and reliable banking sector and to ensure that if problems occur, banks can be resolved without using taxpayers’ money. In order to get a better grasp on its importance in strenghtening and consolidating the European project, we first take a look at the major flaws that stood behind recent crises (banking, sovereign debt, and economic growth).











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