The EU Banking Union was established in 2012 to facilitate cross-border banking. Svend Hougaard Jensen and Dirk Schoenmaker suggest in this Policy Contribution for Bruegel that Denmark and Sweden, though outside the euro area, could benefit from joining the banking union. It would provide protection if there was a need to resolve failure of a large bank with a Scandinavian footprint, and would deepen cross-border banking. Although joining the banking union would involve some loss of decision-making power, incorporation of the Danish and Swedish banking systems in a peer group of European banks would lead to more even-handed supervisory treatment, facilitate comparative analysis by investors, and enable more efficient resolution of any failure of a large bank.
https://www.bruegel.org/wp-content/uploads/2020/06/PC-13-2020-240620.pdf />

Related Articles:

• Supporting the Global South in Tackling Climate Change: Where is the G20 heading?
• The ECB Strategy: The 2021 Review and its Future
• Multi-stakeholder Partnerships in the 2030 Agenda