It is essential that the EU reforms its own institutional infrastructure so that this episode is not repeated – not only in the EU’s own interests but also in view of the external effects that instability within it can have on the global economy and finance.
Peter Praet: Creating an enabling environment for pan-European banks in the Banking Union Remarks by Mr Peter Praet, Member of the Executive Board of the European Central Bank, at the Eurofi Financial Forum 2018, Vienna, 5 September 2018. * * *  In recent years, the European Union has achieved major progress towards financial integration.