18 Oct 2012

Banking Union: Ireland vs. Nevada, an illustration of the importance of an integrated banking system

Daniel Gros

0
Download Publication

7600 Downloads

Despite their surprising similarities – in size and their housing booms – Ireland and the American state of Nevada sharply parted company  when it came to who bore responsibility for bailing out their failed banks when the booms turned to bust. This latest Commentary by Daniel Gros vividly illustrates the importance of that difference and thus the shock-absorbing capacity of an integrated banking system and a banking union.

Daniel Gros is Director of CEPS.