Praet calls for European ‘fiscal backstop’ and deposit insurance scheme

peter-praet
Peter Praet

The European Union needs to implement a common fiscal backstop and a deposit insurance scheme to build a true banking union, or it will be more vulnerable to shocks, the chief economist of the European Central Bank said.

EU banks, and especially their balance sheet exposures, sometimes seemed to be "more like a collection of national banking systems than a single entity", Peter Praet told an audience in Vienna on November 24. This meant that "country-specific shocks cannot be absorbed via

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: