Banking Union as a Shock Absorber by Gros Daniel;Belke Ansgar; & Ansgar Belke

Author:Gros, Daniel;Belke, Ansgar; & Ansgar Belke
Language: eng
Format: epub
ISBN: 9781783485963
Publisher: Rowman & Littlefield International

Footnotes

17 In this context, Allard et al. (2013) emphasise that the inability to cope with shocks is a systemic problem, i.e. not just for the affected country, but also for others due to the rapid spillover of fiscal stress.

18 Formally, it will take 10 years for the SRF to reach its target of €55 billion and the full merger of the national ‘compartments’ within the SRF will be achieved after eight years. This might appear a rather long transition, but the mutualisation will proceed relatively quickly at the beginning since 60% of national compartments within the SRF will be merged after only two years. The gradual increase in the degree of mutualisation agreed corresponds to the proposal made by Gros & Schoenmaker (2012).

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