Banking union hangs in balance, hears UK Lords

By Owen Sanderson
11 Sep 2014

If it works, banking union could be the turning point for crisis management and the architecture of regulation and supervision in Europe, the UK’s House of Lords heard on Tuesday.

The upper chamber took evidence from Professor Simon Gleeson of Clifford Chance and Nicolas Véron of think tank Bruegel, with Gleeson claiming the existing legal framework for the eurozone banking union falls short of what is needed.

“National governments need to believe the European resolution mechanism is credible, ...

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