Probleme der Bankenunion: Falsche Lehren aus der Krise
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Probleme der Bankenunion: Falsche Lehren aus der Krise
Credit and Capital Markets – Kredit und Kapital, Vol. 46 (2013), Iss. 3 : pp. 281–302
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Prof. Dr. Roland Vaubel, Universität Mannheim, Lehrstuhl für Volkswirtschaftslehre, Politische Ökonomie, Verfügungsgebäude L7, 3–5, Zimmer 2–11, 68131 Mannheim.
Abstract
Problems of the Banking Union: Wrong Lessons from the Crisis
The article provides a critical analysis of current plans (July 31, 2013) for i) a single supervisory mechanism, ii) the direct recapitalization of banks from the European Stability Mechanism (ESM), iii) a single resolution mechanism and fund and iv) a single deposit insurance of the eurozone. The description of the plans is followed by an analysis of the justifications put forward in the literature. I distinguish between economic and legal or institutional problems. To the extent to which the aims seem to be justified, I enquire whether they can be attained by the envisaged means and whether there are better ways of attaining them.