European banking needs a state-led triage body

Commentary feature. The authors, Nicolas Véron and Adam Posen, believe Europe should build new long term European joint-action to face the likely high rising number of insolvent banks on the continent. The authors propose on the one hand, a centralised triage and restructuring process of bad European banks lead by a new temporary European Institution, a European Bank Support Authority (EBSA), and on the other hand, long-term EU Institutions dedicated to the completion of an integrated market.

Bruegel: Policy Brief, June 2009: A solution for Europe's banking problem http://www.bruegel.org/uploads/tx_btbbreugel/BruegelPolicyBrief_Europe_s_banking_problem_110609.pdf

Website: Bruegel Thinktank http://www.bruegel.org/

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