Welcome address at the tenth anniversary of the Single Supervisory Mechanism
· Christine Lagarde, President of the European Central Bank (Euro area (EU))
Summary written by Dark Majestic in its own words · topics: financial stability, banking regulation and supervision, growth, investment and productivity
CL · Christine Lagarde Wiki · European Central Bank WikiWelcome address at the tenth anniversary of the Single Supervisory MechanismContextWelcome address by Christine Lagarde for the tenth anniversary of the Single Supervisory Mechanism for European banks.
Why it mattersLagarde calls for a single jurisdiction for euro area banks after ten years of common supervision.
Problems raised- The financial crisis exposed banking vulnerabilities.
- Banking remains national in practice.
- Strategic investment needs are large.
Solutions proposed- Build on ten years of European supervision.
- Create a country-blind single jurisdiction for banks.
- Complete the banking union.
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