Download PDF: Discussion Paper 7
(all European Stability Mechanism)
This discussion paper depicts recent developments in the euro area banking system and sheds light on institutional and economic obstacles to further integration. Based on those facts, the paper proposes a way forward for further integration and completion of banking union, considering the implication of reforms to foster a safer, more profitable and integrated euro area banking industry.
Note: Formatting updates were included on 22 October 2019 in figure 3 on page 13, figure 5 on page 15 and figure 6 on page 16. Also, the last sentence in paragraph 2 on page 11 was deleted.
Disclaimer: The views expressed in this discussion paper are those of the authors and do not necessarily represent those of the ESM or ESM policy. No responsibility or liability is accepted by the ESM in relation to the accuracy or completeness of the information, including any data sets, presented in this paper.