Podcast

Backstage: Next steps towards banking and capital markets union in Europe

Bruegel senior fellow Nicolas Véron talks with Jörg Kukies, state secretary at the German finance ministry, about the next steps to the banking union project in Europe, as well as the potential challenges that lie ahead.

By: Date: September 4, 2018 Topic: European Macroeconomics & Governance

In the first episode of the new Backstage series on ‘The Sound of Economics’, Bruegel senior fellow Nicolas Véron takes time out from the Bruegel Annual Meetings to discuss the immediate future of European banking and capital markets union with Jörg Kukies, state secretary at the German ministry of finance.

The euro-area reform agenda hopes to prevent the repetition of problems that arose during the crisis at the beginning of this decade – to provide better protection for taxpayers and depositors and to avoid any perception of privilege for the banks of one country over those of another. Although there appears to be consensus on the necessity of completing banking union, the question remains open as to which elements are still missing.

On the matter of capital markets union (CMU), though the current European Commission has given great emphasis to progressing with the project, we are still quite far from consensus on the exact shape that a more integrated supervisory framework should take.

This discussion gets into the details of the immediate challenges and the particular sticking points in negotiations over banking and capital markets union.

For further reading, consider the Policy Contribution on making a reality of Europe’s capital markets union, co-written by Nicolas Véron, André Sapir and Guntram Wolff. Meanwhile, in a previous edition of the Director’s Cut podcast, Nicolas Véron discusses the importance of developing deposit insurance as a part of Europe’s broader banking union aspirations.

View comments
Read article More on this topic

Blog Post

Could Italian private wealth compensate for flight of foreign bond-holders?

Italy’s deputy prime minister Matteo Salvini is "convinced" that Italians can help out their government, in the face of a widening yield spread between German and Italian government bonds. The authors assess the feasibility of recourse to household wealth in Italy, and estimate the relative importance of foreign debt-holders in the upcoming bond redemptions.

By: Jan Mazza and Silvia Merler Topic: European Macroeconomics & Governance Date: November 19, 2018
Read article More on this topic More by this author

Podcast

Podcast

Director’s cut: What Syrian refugees need to return home

This episode of the Director’s Cut features a conversation between Bruegel’s director, Guntram Wolff and Maha Yahya, the director of the Carnegie Middle East Center

By: The Sound of Economics Topic: Global Economics & Governance Date: November 15, 2018
Read article More on this topic More by this author

Podcast

Podcast

Backstage: How think-tanks can make themselves heard in an information-rich world

Think-tanks have come a long way since their organisational blueprint was first conceived, but they have work to do in order to adapt to meet the needs of both policymakers and the general public, and transmit their signals above the noise of the modern age.

By: The Sound of Economics Topic: Global Economics & Governance Date: November 8, 2018
Read article More on this topic More by this author

Podcast

Podcast

Director’s Cut: Options yet open for a Brexit deal

Robin Niblett, director of Chatham House institute, joins Bruegel deputy director Maria Demertzis for an assessment of what progress can be reasonably expected from the final months of the Brexit negotiations.

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: November 7, 2018
Read article Download PDF More on this topic More by this author

External Publication

Euro area reform: An anatomy of the debate

A year ago, a group of 14 French and German economists joined forces with the aim of forging common proposals for euro area reforms. Their report gave rise to a lively discussion among officials and academics. This Policy Insight summarises the group's proposals and also addresses some of the points raised in a subsequent VoxEU.org debate on the topic.

By: Jean Pisani-Ferry Topic: European Macroeconomics & Governance Date: November 5, 2018
Read article More on this topic More by this author

Podcast

Podcast

Deep Focus: How to improve anti-money laundering efforts in Europe

In this episode, Bruegel senior fellow Nicolas Véron joins Sean Gibson to discuss the recent Policy Contribution on how to better the European Union anti-money laundering (AML) regime, a paper he has co-written with Joshua Kirschenbaum.

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: October 30, 2018
Read article More on this topic More by this author

Podcast

Podcast

Backstage: Japan’s inflation problem and monetary policy options

Bruegel senior fellow Zsolt Darvas welcomes Sayuri Shirai, professor at Keio University, visiting scholar at the Asian Development Bank Institute and former Member of the Policy Board of the Bank of Japan (BOJ), for a discussion of the Japanese monetary policy outlook. 

By: The Sound of Economics Topic: Global Economics & Governance Date: October 26, 2018
Read article Download PDF More on this topic

Policy Contribution

A better European Union architecture to fight money laundering

A series of banking scandals in multiple EU countries has underlined the shortcomings of Europe's anti-money laundering regime. The impact of these shortcomings has been further underlined by changing geopolitics and by the new reality of European banking union. The imperative of establishing sound supervisory incentives to fight illicit finance effectively demands a stronger EU-level role in anti-money laundering supervision. The authors here detail their plan for a new European unitary architecture, centred on a new European anti-money laundering authority that would work on the basis of deep relationships with national authorities.

By: Joshua Kirschenbaum and Nicolas Véron Topic: European Macroeconomics & Governance Date: October 25, 2018
Read article More on this topic More by this author

Podcast

Podcast

Director’s Cut: How to reform and fortify the global financial system

Bruegel director Guntram Wolff is joined by Tharman Shanmugaratnam, deputy prime minister of Singapore and chair of the G20 Eminent Persons Group, and Jean Pisani-Ferry, mercator senior fellow at Bruegel, for a conversation about the growth and stability challenges facing the global financial system, and how the system can be better equipped to deal with the significant and novel problems of the future.

By: The Sound of Economics Topic: Global Economics & Governance Date: October 23, 2018
Read article More on this topic More by this author

Podcast

Podcast

Backstage: The new balance of Asia-EU-US trade relations

Amid the Asia-Europe Economic Forum on the fringes of the 12th ASEM Summit, Bruegel senior fellow hosts a conversation on developing global trade relations, with guests Moonsung Kang, professor as Korea University, and Michael G. Plummer, director at SAIS Europe – Johns Hopkins University, for an episode of the Bruegel Backstage series on ‘The Sound of Economics’.

By: The Sound of Economics Topic: Global Economics & Governance Date: October 17, 2018
Read article More on this topic More by this author

Podcast

Podcast

Deep Focus: Renewing the clean energy strategy in the Mediterranean

In this episode of Deep Focus, Bruegel research fellow Simone Tagliapeitra explains how the nature of cross-Mediterranean energy relations needs to change, not only in line with new climate-change targets but also to meet the burgeoning energy demand outside Europe.

By: The Sound of Economics Topic: Energy & Climate Date: October 16, 2018
Read article More on this topic More by this author

Podcast

Podcast

Director’s Cut: How does Italy’s budget fit with EU fiscal rules?

In this Director’s Cut of ‘The Sound of Economics’, Guntram Wolff welcomes Bruegel research fellow Grégory Claeys to assess how the new Italian budget proposals measure up against the existing EU fiscal rules.

By: The Sound of Economics Topic: European Macroeconomics & Governance Date: October 9, 2018
Load more posts