L’attuazione del progetto di Unione Bancaria Europea. Problematiche e prospettive di completamento

This article aims to study the ongoing construction of the European Banking Union through an analysis structured in three parts. First, it will describe the functioning of the Banking Union, focusing on each of its components: the single rulebook, the Single Supervisory Mechanism, the Single Resolution Mechanism and the harmonisation of national deposit insurance schemes. Second, it will consider the main legal challenges the European legislator had to deal with in the implementation of the project: the limits of the legal basis, the possible conflict between monetary and supervisory policy and the balance between independence and accountability. Lastly, the article will analyse how the Banking Union project can successfully be completed, while highlighting the need for a common fiscal backstop.