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Banking and capital markets
While the world was saved from financial instability during the pandemic, new developments in the European Union’s financial system are emerging.
While the COVID-19 pandemic has not led to financial instability thanks to effective European Central Bank intervention and major government interventions, new developments in the EU financial system are emerging.
Our researchers monitor financial sector developments and public policy responses, and make policy recommendations with a specific attention to the role of the financial sector to support the EU’s green and digital transitions.
Recently published and updated
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Europe’s Banking union at ten: unfinished yet transformative
Nicolas Véron offers the first comprehensive exploration of the genesis, implementation and possible future completion of the banking union
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Latest financial supervisory reform diverts China from the path towards a market-based financial system
![jorunal of economics](/sites/default/files/styles/featured_image_medium_with_focal_point/public/2024-03/Screenshot%202024-03-28%20134056.png?h=74a94424&itok=g8memYAe)
Exchange rates and fundamentals: Forecasting with long maturity forward rates
![Euro banknotes](/sites/default/files/styles/featured_image_medium_with_focal_point/public/2024-02/Jeromin%20080224.jpg?h=869dea68&itok=C9021LdG)
The Euro at 25: Fit for purpose?
![50 Euro banknotes](/sites/default/files/styles/featured_image_medium_with_focal_point/public/2023-11/pexels-pixabay-248933.jpg?h=0c2904f9&itok=sgvjTbyI)
Why I’m not concerned about the billions of central bank “losses”
Central banks’ losses are not a cause for concern
Events
![Europe’s banking union at 10: unfinished yet transformative](/sites/default/files/styles/featured_image_medium_with_focal_point/public/2024-06/GettyImages-1229908016.jpg?h=199d8c1f&itok=Ifgv8osV)
Europe’s banking union at 10: unfinished yet transformative
The event launched Nicolas Véron's book, Europe’s Banking Union at 10: Unfinished Yet Transformative!
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What can we learn from the 2023 banking turmoil?
What were the root causes of the banking failures in March 2023, and what lessons can be learned to prevent future crises?
![Ineffective and insufficient? Evaluating and improving the design of sanctions](/sites/default/files/styles/featured_image_medium_with_focal_point/public/2024-05/smc%2016.jpg?h=5b4a59a6&itok=nk8AUHmq)
Ineffective and insufficient? Evaluating and improving the design of sanctions
The workshop will take place in Berlin and will look into the economic and political impact of the sanctions imposed on Russia.
Podcasts
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Climate change, the next big financial threat
A warming planet poses new risks to European sovereign debt. How can the continent protect itself?
![A trader sits in desk pods on the trading floor of the Frankfurt Stock Exchange of the Deutsche Boerse AG on March 2, 2020 in Frankfurt, Germany. Europe is braced for more fallout from the coronavirus as confirmed cases of Covid-19, the disease caused by the coronavirus, have reached at least 117 in Germany and are expected to continue rising. (Photo by Thomas Lohnes/Getty Images)](/sites/default/files/styles/featured_image_medium_with_focal_point/public/2024-03/small.jpg?h=fa6ea0d5&itok=toUF4R7i)
Capital markets union - why now?
What is hindering the EU from achieving a Capital markets union?
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What to do with frozen Russian assets
How could the EU help further fund Ukraine two years into the war?
![ecb](/sites/default/files/styles/featured_image_medium_with_focal_point/public/2024-01/photo.jpg?h=cb5638ae&itok=uWn-n-SA)
Ten years of Europe’s banking union
How far along is Europe’s banking union, and what is next?