Preparing the Banking Union for the next crisis
As of mid-2013, there is no clarity whatsoever on how a collective public bailout would take place in the Banking Union. More clarity on the matter is needed to avoid the costly uncertainty and indecisiveness that we have so frequently experienced during the present eurozone crisis. Therefore, the Banking Union countries should in the short-term provide an outline of how future last resort financial assistance to the banking sector would take place. The key is to render last resort bailouts possible, while at the same time making clear to bankers that a bailout is most unlikely to happen.
in E!Sharp, Sept. 2013.
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