Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/186065 
Erscheinungsjahr: 
2016
Quellenangabe: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 152 [Issue:] 4 [Publisher:] Springer [Place:] Heidelberg [Year:] 2016 [Pages:] 319-329
Verlag: 
Springer, Heidelberg
Zusammenfassung: 
Government bond markets in the Euro Area are highly fragmented causing further fragmentation in bond and equity markets. Capital Markets Union with fully integrated capital markets across member countries can only work when the status of member country sovereign bonds as risk-free assets is restored. Banking Union and fiscal union are both required for this outcome. However, the Banking Union remains an unfinished project without a European deposit insurance framework and there is little consensus at the moment for a fiscal union in the Euro Area. It appears thus that the fate of the Capital Markets Union solely rests with the European Central Bank in the near to medium term.
Schlagwörter: 
capital markets union
financial market integration
sovereign risk
JEL: 
G01
G15
F34
Persistent Identifier der Erstveröffentlichung: 
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