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
Date Written: March 15, 2013
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: Suggested Citation