Tag: eu banking reforms

What is the EU Banking Reforms all about

What is the EU Banking Reforms all about

Financial Markets Explained
The EU banking reforms has been one of the highly discussed topics in recent months and gained even more prominence as the Eurozone countries seem to be split on the issue. In this article, we discuss what is the EU banking reforms and the proposed changes to the banking sector in the Eurozone. The EU Banking reforms, is a loosely coined term for what is known as the Single Supervisory Mechanism. The financial crisis in Eurozone has brought to light many cracks within the banking sector in the region which set the stage for the proposed reforms with an aim to create uniformity in the banking sector in Eurozone. The Single Supervisory Mechanism or SSM for short is being proposed, where in the European Central Bank (the ECB) will assume ultimate supervisory responsibilities for t