The creation of the Banking Union in 2014 was a powerful response to the financial crisis, with significant progress on an EU single rulebook, on the establishment of a new European architecture for supervision and resolution, and on reducing risks. This has contributed to making Europe’s banks more robust and businesses, investors and citizens more confident in the European financial system. During the pandemic crisis, the European banking sector has been a source of stability rather than weakness.
Link: Eurogroup statement on the future of the Banking Union of 16 June 2022