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Banking Union: are the June decisions of the Eurogroup up to the challenges?

Day 2 Afternoon

Thursday 08 September

Room :



José Manuel Campa
Chairperson - European Banking Authority (EBA)
Public Authorities
Steven Costers
Counsellor General, International and European Financial Affairs - Federal Public Service Finance - Treasury
Margarita Delgado
Deputy Governor - Banco de España
Harald Waiglein
Director General for Economic Policy, Financial Markets and Customs Duties Directorate, Member of the Board of Directors, European Stability Mechanism - Federal Ministry of Finance, Austria
Industry Representatives
Christian Castro
Head of Public Affairs - CaixaBank
Francesco Ceccato
Chief Executive Officer - Barclays Europe
Christian Edelmann
Managing Partner Europe - Oliver Wyman (UK)
Pier Carlo Padoan
Chairman of the Board of Directors - UniCredit S.p.A. (HQ)

Objectives of the session

The aim of this session is to comment on the “results” of the June Eurogroup meeting for the future of the Banking Union, to discuss limitations resulting from this agreement and to debate the foreseeable consequences of these decisions on the fragmentation of the banking market in Europe.
Then speakers will be requested to express their views on the implications for financial stability and strategic autonomy for Europe, on the lack of decisions to reduce ring fencing practices and reduce the sovereign banking link, and to put forward proposals that could help break the current deadlock to speed up the single market for European banking services.

This session will not deal in detail with the rules of bank crisis management since a specific session on this topic will be held immediately after the session.

Points of discussion

  1. How do the Eurogroup conclusions of June 2022 improve the future of the Banking Union? How can we explain the delay of the phased and gradual approach notably to facilitate “cross-border integration” and tackle the link between banks and their country’s sovereign? What are the expected consequences of this “deadlock” on the fragmentation of the EU banking market?
  2. What would be the consequences of not addressing ring fencing policies and the sovereign bank loop on the resilience of the Eurozone to economic shocks, on financial stability and the profitability and competitiveness of banks and Europe ‘s strategic autonomy? What policy priorities could overcome domestic ring-fencing policies? What are the conditions to consider transnational banking groups as integrated entities in the EU regulatory and supervisory practices and not as a collection of stand-alone banks? What are the pre-requisites to build a common political approach in Europe to effectively improve the Banking Union in all its components?