At a seminar in Stockholm, 8 March 2019, renowned experts and policymakers discussed the banking union from a Nordic-Baltic perspective. The seminar was arranged jointly by SIEPS and the Swedish inquiry on potential participation in the banking union.
The creation of the European banking union is a fundamental reform of financial governance in the EU, today comprising centralised supervision and resolution of banks. Even though it currently encompasses the euro area, the development of the banking union is also pertinent to both non-euro member states as well as to other European countries.
The banking union can be expected to impact both banking interlinkages and cooperation in the Nordic-Baltic region the future. Nordic-Baltic banking systems are highly interlinked, which is also reflected in the close cooperation between the region’s authorities. Today, the Baltic countries and Finland are participating in the banking union, whereas Sweden, Denmark and Norway are not.
