Does Europe Have What it Takes to Finish the Banking Union? Articles uri icon

publication date

  • October 2018

start page

  • 233

end page

  • 290


  • 2


  • 24

International Standard Serial Number (ISSN)

  • 1076-6715


  • Post-crisis reforms aimed at shoring up individual financialinstitutions fail to see the overall picture of non-performing loans (NPLs). This may be due to reformers' still-pervasivemicroprudential approach, and/or, even more clearly, to thecontamination of the issue by the debate on transfers and debtmutualization in the Eurozone. The result is a plan that focuses on individual institutions, and leaves countries to deal with their own NPLs problem. Unfortunately, NPLs present threats that have a clear European dimension, which cannot be ignored, or wished away