The economic security of the State and the banking union

The experience of the recent financial and economic crisis has shown that in the situation of deepening globalization and integration of financial markets, the existing solutions in the sphere of European financial safety net were not sufficient and threaten the stability of Europe and its banking system. Already adopted and implemented banking union is moving towards the improvement of the economic security and interruption of the relationship between the public sector and supported in case of crisis banking sector. The banking union proposed by the European Commission in 2012 finally consists of 3 components: the Single Supervisory Mechanism (SSM), Single Resolution Mechanism (SRM), and Deposit Guarantee Scheme (DGS). The book deals with the great financial crisis and in particular its causes and connection with public finances. A clear deterioration of the economic security of the EU countries has led to the spectacular transnational agreement in the EU. The result of this agreement was the adoption by the EU three pillars of the banking union. The paper deals with a very current problem of the impact of the banking union on the improvement of the economic security of the state.

Autorentext

Pawe Sitek is a Doctor of Law, graduate of the University of Warsaw. Since 2008 he has worked as an assistant professor at the University of Finance and Management in Warsaw. In addition, he is the author of several publications on banking law. He has many years of experience in the banking sector.