European banking policy: past, present and future
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Over the last half-century, economic integration in Europe has, despite some legitimate flaws, been tremendously successful in creating a situation of peace and prosperity. The success we enjoy today, however, has not always come easily. At many points along the path of European integration, policymakers were forced to make difficult choices that demanded political courage and foresight. Now is just such a time. As Europe emerges from the crippling worldwide economic crisis, it is imperative that policymakers unite on key measures to re-capitalise Europe’s banks, provide proper regulatory oversight and control public debt. Europe’s future economic vitality depends on it.