Challenges at the European Level of the Recent Financial Crisis: Towards a Banking Union

The major negative implications of the recent financial crisis, including those of the sovereign debt crisis, especially in the case of the euro zone, on the financial integration process have determined the adoption at the EU level of some significant measures, without precedent, aimed at enhancing the resilience of the European financial system and the consolidation of the financial stability. In this context, our research aims to underline on the one hand, some major implications of the international financial crisis on the financial integration and intermediation process, the adopted measures and on the other hand the debate regarding the content of the main proposals for the creation of the new institutional framework represented by the European Banking Union.