Wolpertinger Conference  Banking Union: experience so far and future prospects Remarks by the Senior Deputy Governor of the Bank of Italy and President of the Institute for the Supervision of Insurance (IVASS) Salvatore Rossi  Modena, 30 August 2018  1.
Rationale for the Banking Union Banking Union (BU) in the euro area is the latest step in a long journey.1 The project for an integrated and unified Europe was designed right after the Second World War and was ambitious but pragmatic: ambitious in the ultimate objective of ensuring peace and prosperity to the European people after centuries of bloodshed; pragmatic because an explicit choice was made to start the process with the economy, instead of the much more challenging political sphere.