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This event marked the launch of the book Europe’s banking union at 10: unfinished yet transformative written by Nicolas Véron. The book revisits the history of the banking union’s genesis; describes and assesses its developments so far; and discusses the missing pieces and prospects for eventual completion.

The banking union is the European Union’s project to integrate banking sector policy in the euro area.1 Following decades of debates and momentous decisions in 2012, it became a reality in 2014, fifteen years after the euro itself, when the European Central Bank (ECB) assumed authority as banking supervisor. Therefore, 2024 marks not only the 25-year anniversary of the euro, but also the 10-year anniversary of European banking supervision, the main initial achievement of banking union.

At this event we looked into the main obstacles to completing the European banking union, particularly in the areas of crisis management and resolution and how the current gaps in the banking union framework affect the EU's growth potential and financial stability, and what steps can be taken to address these issues.