L'Unione Bancaria Europea E La Stabilizzazione Dell'Eurozona (The European Banking Union and the Stabilization of the Eurozone)

Moneta e Credito, Vol. 66, No. 261, pp. 7-42, 2013

36 Pages Posted: 28 Apr 2013 Last revised: 3 May 2013

See all articles by Mario Sarcinelli

Mario Sarcinelli

University of Rome I - Department of Public Economics

Date Written: March 15, 2013

Abstract

The economic governance of the Eurozone has been substantially improved in the last two years. However, the Eurozone still exhibits a dramatic coordination failure. Economic growth is being invoked, without anybody acting to make it realise. If a common macroeconomic stabilisation device was in place, it may have been possible to sustain growth without imposing new stress on public finances. Moreover, mechanisms of risk sharing, in the form of a fiscal backstop, are also a necessary component of any banking union.

Note: Downloadable document is in Italian.

Keywords: Banking Union, Euro, european crisis, financial stability, unione bancaria, crisi, euro

JEL Classification: G01, G18, G28

Suggested Citation

Sarcinelli, Mario, L'Unione Bancaria Europea E La Stabilizzazione Dell'Eurozona (The European Banking Union and the Stabilization of the Eurozone) (March 15, 2013). Moneta e Credito, Vol. 66, No. 261, pp. 7-42, 2013, Available at SSRN: https://ssrn.com/abstract=2257271

Mario Sarcinelli (Contact Author)

University of Rome I - Department of Public Economics ( email )

via del Castro Laurenziano, 9
Rome, RM 00161
Italy

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