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Assessing the single supervisory mechanism: passing the point of no return for Europe’s Banking Union

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With the aim of breaking the negative feedback loop between Europe’s financial and sovereign debt crises, the EU decided to create a common supervisory framework for the banking sector: the Single Supervisory Mechanism. This Egmont Paper assesses the new supervisory mechanism, its role in the Banking Union and the challenges ahead.
(Photo credit: Jamie Arthur, Picasaweb)