Centre news
13.01.2022

L'Agefi - A fresh start for the European banking union project?

The new German government has shown interest in relaunching discussions about the Banking Union in the EU. In an interview in L’Agefi, Sebastian Mack discusses the hurdles the important project of European integration is facing. 

Sebastian Mack argues that the new German coalition has demonstrated its will to push forward with the Banking Union by proposing to create a European reinsurance mechanism for national deposit guarantee schemes. He recalls, however, that there is still a long way to go before achieving an agreement among all EU member states. While some governments would favour full mutualisation of national deposit insurance systems as initially proposed by the European Commission, France would have to abandon the current derogation from EU rules that allows French banks to accumulate less money for deposit protection than banks in other EU countries.

Read the full interview (in French) here