Banking Union as a Shock Absorber

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The book explores the contrasting effects of banking unions on regional financial stability, focusing on the United States and Europe. It highlights how the U.S. banking union effectively mitigates regional financial shocks at the federal level, while in Europe, especially within the Eurozone, such unions have resulted in significant regional dislocation and tensions. The study delves into the mechanisms and implications of these differences, offering insights into the effectiveness of banking unions in crisis management.