More dependent for financial services on banks than on markets in debt and equity, Europe has had to work harder to repair its financial system following the banking collapse of 2008 and this task is complicated by the subsequent widespread debt overhang.
Much of this conference has been devoted to the question of banking supervision and resolution, matters of official policy in the proposed Banking Union. I would like to look further ahead to ask what type of banking system we may see – or wish to see – in Ireland within the Banking Union.