The president of the banking supervisor within the European Central Bank (ECB), Andrea Enria, defended on Tuesday the completion of the banking union on a European scale during a symposium organized by the Institut Montaigne, in Paris.
His speech focused on the Deposit Guarantee System (EDIS). EDIS made its return to the table of European Union (EU) leaders at the beginning of May.
The project for a European system, inspired by the United States, would better protect the banks in the event of a crisis, because their customers, assured of not losing their money, would avoid rushing to the counters to withdraw their savings.
The problem is known, the three pillars are not moving in synchrony, said Mr. Enria, referring to the Single Supervisory Mechanism (SSM), the Single Resolution Mechanism (SRM), both in place, and the system of guarantee of deposits, which crystallizes discussions between countries.
When you go from the first to the second to the third, the differences between the governments emerge more in the debate, he lamented.
The pooling of guarantees on a European scale has for years come up against the reluctance of Germany and other countries in the north of the European Union (EU), which fear that their savers will pay for the failures of banks in developing countries. south.
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Currently, retail deposits are insured up to 100,000 euros in the EU, thanks to financing from national banking networks.
EDIS made its return to the table of EU leaders at the beginning of May.
The President of the Eurogroup, the Irishman Paschal Donohoe, then presented European finance ministers with a roadmap to relaunch this project which would finally complete the banking union, implemented in pain from 2012, in the wake of of the financial crisis.